❔ Are ICO tokens securities? Startup wants a judge to decide

Kik Interatctive Inc. is going to court with the Securities and Exchange Commission (SEC) in what could be a pivotal moment for for initial coin offerings (ICOs) and security tokens. The SEC claims Kik failed to register as a security with Kik countering that that its native currency Kin ($KIN), is a tool for website purchases of Kik products. In a 39 page court rebuttal, Kik states that no investor contract is made and investors cannot expect a profit, two strikes against the SEC's security claims.