Cyber

Kik goes to court over crypto debate

Chat app Kik yesterday helped launch a legal battle that could result in greater clarity around whether digital tokens are currencies or securities.

Backstory: Kik in 2017 raised nearly $100 million in an initial coin offering for a token called Kin that would be used to buy and sell digital services. The SEC later reached out for more info and eventually sent Kik a Wells notice that indicates some sort of enforcement action will be forthcoming.

Expert Voices

EU aims to deter cyberattacks with stricter penalties

European Council building with European flags displayed
The European Council in Brussels, Belgium. Photo: Emmanuel Dunand/AFP/Getty Images

The European Council announced last week a new framework to punish perpetrators of cyber crimes, in response to a growing number of politically motivated attacks against EU member states and institutions, non–EU countries and international organizations.

Why it matters: The EU has condemned malicious behavior in cyberspace before, but this is the first time it has instituted a policy to respond to malign behavior, an important milestone given the threats posed by hackers from Russia, China and elsewhere.