By CCN: According to documents tweeted by lawyer Stephen D. Palley, the government accuses Kik of turning to selling tokens out of desperation. The accusation is part of a motion to discover. Will Kik Open the Floodgates? The government is looking to ransack Kik as a result of its decision to buck the system. Not everyone thinks this will go well. Many people have to wonder why Kik is playing ball in quite this fashion, potentially opening itself to a slate of legislative options. If it goes down the way the government wants, things could get mighty nasty for Kik.
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Source: https://www.ccn.com/securities-watchdog-kik-blockchain-tokens