A U.S. District Judge allowed the Blockchain Association to file a quick in an on-going suit between the U.S. Securities and Exchange Commission (SEC) and Kik regardless of the regulator's considerations the group was not a impartial observer.
Judge Alvin Ok. Hellerstein of the Southern District of New York signed off on the advocacy group's proper to file the amicus - or "friend of the court" - transient final week, a day after the SEC filed an objection expression a number of members of the association had medium of exchange system pursuits inside the case, and it after was not an goal or impartial entity.
The Blockchain Association pushed once again con to the SEC's description of its position inside the case Tuesday, with Executive Director Kristin Smith expression the group was "proud to file" the transient.
BTC 0.01
"The SEC's description of our brief was wrong, and we are pleased the court granted our motion to participate as a friend of the court," she declared in a release shared with CoinDesk.
Graham Newhall, the association's communication hypothesis advisor, declared the group wouldn't touch upon the particular claims the SEC made in its submitting, however declared that "it's a little strange to treat the Blockchain Association different from other trade associations."
Kik shouldn't be now a member of the group, although the Blockchain Association does now handle the "Defend Crypto" fund Kik at first launched final yr.
"The Blockchain Association was proud to file its amicus brief in this matter, and we appreciate the chance to speak for the entire industry in supporting sensible regulation," Smith declared. "The court system benefits from amicus Jockey shorts like ours that place the parties' evidence and arguments in their broader context, a role played every day by associations, non-governmental organizations and advocacy groups in courts crosswise America."
The SEC maintains the kin gross revenue have been a securities transaction, whereas Kik says its public sale was not. Kik at first wanted a jury trial for the case, which started in June 2019, although it has since walked once again from the stance.
The SEC declined to remark.
The chief in blockchain information, CoinDesk is a media outlet that strives for the very best print media requirements and abides by a strict set of editorial insurance policies. CoinDesk is an impartial working subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
0 Comments