Defend Crypto - KIN Launches Fund to Fight SEC
KIN is one of the icos i went into, initially as ERC20 on ETH.
They lately switched to mainnet and here is a guide on how to move coisn from ETH to it - https://steemit.com/ethereum/@kingscrown/kin-moved-to-mainnet-change-your-erc20-tokens-asap-guide
If you havent better do it ASAP.
The Kin Foundation is launching an initiative called DefendCrypto.org with $5 million in order to fund a potential court battle with the Securities and Exchange Commission, the founder Ted Livingston announced on Unchained podcast.
In January 2019, Kin came out publicly to share what has been going on behind the scenes with the SEC. This has been a burden for not just Kin, but many others in the space who are optimizing for regulation before innovation. Everyone is always asking “what will the SEC think?” instead of “what is best for consumers?”
Despite the fact that last month over 300,000 people earned and spent Kin as a currency, the SEC is still saying that it might be a security. After months of trying to find a reasonable solution, Kin has been unable to reach a settlement that wouldn’t severely impact the Kin project and everyone in the space. So Kin is going to take on the SEC in court to make sure there is a foundation for innovation going forward.
They have already out 5 million USD into it and plan adding 5 more.
KIN Markets
Those are the top but i personally use BitForex mostly for this coin and a bit of Bit-Z. So you can support the guys not only by donating but also buying KIN ie.
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Interesting idea.
I wish them luck but KIN the token is really iffy to me and probably not a good figure to lead the fight but oh well.
Sounds like an amazingly executed scam
I wish them luck but the SEC isn’t an organisation you can take on with just $10 million. If it was more clear cut maybe they could do it but this is carving a path into new territory and that’s an expensive task.
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The SEC is blockin innovation no doubt about it. It takes them forever to make any kind of practical decision. IMO they are just protecting the USD because they know how powerful crypto can be.
Posted using Partiko Android
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