Despite opposition from the U.S. SEC, the judge approved the Blockchain Association ’s court consultation document on Kik

Last week, the United States Securities and Exchange Commission (SEC) filed the objection to a summary of “amicus curiae” (amicus curiae) summary submitted by the non-profit organization Blockchain Association in the SEC and Kik legal proceedings Two days later, Southern District Judge Alvin K. Hellerstein approved the Blockchain Association’s court consultation document. According to previous news, in the SEC’s lawsuit against Kik, the Blockchain Association submitted a summary of “Friends of the Court” that Kin tokens are not securities. The SEC mistakenly confuses Kik’s issuance of tax-free securities with qualified investors in 2017 and the issuance of blockchain tokens. In this regard, the US SEC stated that the position of the Blockchain Association is not neutral and objective. Lianwen Note: The Friends of the Court summary is a legal document submitted by a non- litigant in an appeal court case to provide the court with advice on other arguments that may wish to be considered.

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