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S.E.C. Sues Social-Media Company Kik Over Digital Coin Offering

After the social-media start-up Kik Interactive sold $100 million worth of digital “coins” in 2017, the Canadian company argued that it didn’t need the permission of federal securities regulators. On Tuesday, those regulators begged to differ. The Securities and Exchange Commission sued Kik in federal court in Manhattan, claiming that …

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