![]() ![]() “Kik is one of the largest apps in the US. “These are hard decisions,” blogged Livingston. He then said the messaging app would be shut down and staff would lose their jobs. “So with the SEC working to characterize almost all cryptocurrencies as securities we made the decision to step forward and fight.” “Becoming a security would kill the usability of any cryptocurrency and set a dangerous precedent for the industry,” he said. Read also : EU Agrees Comprehensive Framework For Crypto Regulation After 18 months of working with the SEC the only choice they gave us was to either label Kin a security or fight them in court.” “When it comes to consumer adoption Kin is the most used cryptocurrency in the world. He described how the company will be reduced to just 19 ‘elite’ employees, which means that over 80 people will lose their jobs, as it focuses on converting more Kin users into buyers. It has also proved popular largely because it lets people register and use it without users having to provide a phone number or other credentials such as an email address.īut despite its success, the developers behind the app have decided to shut it down – a decision announced in a blog post by CEO Ted Livingston. Users can also create and send different memes and ‘photobomb’ their contacts. It allows users to send photos, have group chats and download different emoticons. ![]() Kik is free messaging app that has seen massive uptake since its launch 2010, with millions of users, particularly in North America. It is making the “hard decision” because it wants to throw all of its effort and “current resources” into a legal battle with the SEC, which it says is trying to classify its Kin cryptocurrency as a security, which would “set a dangerous precedent for the industry.” ![]() Kik Interactive has announced that it is closing its popular Kik Messenger app, and making nearly 100 people redundant, over a legal battle with the US Securities and Exchange Commission (SEC). ![]()
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