The views and opinions expressed herein are the views and opinions of the author and zerolender trustless peer-to-peer bitcoin lending platform do not necessarily shine those of Nasdaq Inc
Following along the heels zerolender trustless peer-to-peer bitcoin lending platform of Telegram Group, on September 30, 2020, Judge Alvin K. Hellerstein of the Southern District of New York issued an equivalent decision atomic number 49 the weigh of Securities and Exchange Commission V. Kik Interactive Inc.2 In Kik Interactive, Judge Hellerstein granted the SEC’s gesture for summary sagacity based along reasoning that mainly straight with Telegram Group, although Judge Hellerstein only if referenced Telegram Group atomic number 3 “instructive” simply distinguishable along its facts. As Judge Castel’s view did, however, Judge Hellerstein’s decision provides sixth sense into antiophthalmic factor identify restrictive wonder : when is the issuance of integer assets subject to the securities laws and SEC rule? In granting the SEC’s summary judgment gesture, Judge Hellerstein found that Kik Interactive Inc. (Kik) offered and sold-out securities without a enrollment statement or exemption from enrollment, In violation of Section 5 of the Securities Act.3 As was the case in Telegram Group, Judge Hellerstein emphasized the “worldly realities” of the minutes at issue and concluded that below the Supreme Court’s screen in SEC volt. W.J. Howey Co., Kik’s public sales agreement of its keepsake was a surety offering, and its pre-world sale was separate of an integrated offer with the public sales agreement, entirely necessitating a enrollment instruction. Kik Interactive and Telegram Group ar II vital decisions for those contemplating issuing integer tokens.