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> I still don't understand why they didn't get SEC approval before offering the token sale, however. Because what they did was illegal and the SEC would never
by thesausageking 7y ago
> I still don't understand why they didn't get SEC approval before offering the token sale, however.
Because what they did was illegal and the SEC would never have approved it. To do it legally, they would've had to only sell to accredited investors and there's no way they raise $100m doing that.
- xs83 7y agoAnd "accredited investors" only are the antithesis of crypto, the fact that people of any age are able to participate in this was the reason it was so successful as an ICO. They marketed the product offering specifically at teens (Kik's demographic).