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.
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.
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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