Cryptocurrencies

Podcast: The case to decide crypto

We dig into yesterday's lawsuit brought by the SEC against chat app maker Kik, which may legally determine if digital tokens are currencies or securities.

  • Our guest is Katie Haun, a venture capitalist and former federal prosecutor who led investigations into the Mt. Gox hack and corrupt agents on the Silk Road task force.

SEC sues chat app Kik over its $100 million token sale

Illustration: Rebecca Zisser/Axios

The U.S. Securities and Exchange Commission on Tuesday filed suit against Canadian chat app Kik, alleging that its $100 million token sale in 2017 should have been registered as a securities sale. Kik has argued the tokens should be classified as currency, as they're used to buy and sell digital goods.

Why it matters: This case could result in greater clarity on the legal status of digital tokens.

Go deeper: Kik goes to court over crypto debate