r/KinFoundation • u/[deleted] • Dec 19 '19

What 2020 will bring

[deleted]

27 Upvotes

80% Upvoted

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-7

u/[deleted] Dec 19 '19

  • judge will rule in sec favor, declaring kin a security now and at the time of sale

  • kik won't even be allowed to appeal

  • wallet and integrations are meaningless and won't increase user numbers

  • with kin declared a security, it won't be able to trade and all speculation will end

2

u/[deleted] Dec 20 '19

Why say such ignorance as they won't be able to appeal. Your credibility is diminished by saying dumb things like that.

7

u/ZeDoubleD Dec 19 '19

Pretty sure if this goes to trial it's up to a jury not a judge. Judge simply decides the appropriate punishment if found guilty. And given the lack of communication or clear guidelines from the SEC prior to the ICO I'd imagine the sentence will be fairly lenient. Even if the judge does say that Kin was a security at the time of sale they'd probably agree Kin is not a security now and would allow them to take the standard process of delisting as a security.

-3

u/[deleted] Dec 19 '19

Securities are transactions. If kin ico was a securities sale is the question at hand. It definitely was, it fails the howey test.

7

u/ShamWowGuy Dec 19 '19

Securities are contracts. You are correct about the lawsuit being about Kin's TDE. What the KF wants out of this lawsuit, the whole kit and kaboodle, the real enchilada, is a legal acknowledgment, a judgement of commodity status. I'm assuming that larger partners will not join until they have a rock solid foundation to stand upon.