The United states Securities Substitution Commission (SEC) has requested a deposition from a representative of Kik Interactive Inc. to provide detailed information most its operations since releasing native token Kin.

Kik Interactive, the Canadian company behind the Kik messenger awarding, has been dragged into a long-continuing legal battle with the U.S. regulator. The SEC claims that the company violated securities laws when it carried out Kik's token distribution in 2022.

On Jan. 23, a Manhattan federal judge ordered that Kik Interactive share with the SEC information detailing how its business organisation has changed since 2022. As such, the regulator chosen Kik's head of operations and technical adviser, Tanner Philip, to give deposition on the matter, which is scheduled on January. 29.

Request for the trial engagement definition

The motion follows Kik'southward contempo request for the formal definition of a trial engagement for the lawsuit. Kik continues arguing that the commission does non accept strong evidence to back up their claims, with CEO Ted Livingstone expressing his want to become to trial every bit shortly as possible, setting May 2022 as a possible target.

However, in response to a Nov. 26 court gild, the two parties agreed on a roadmap to conclude the trial in June 2022. Additionally, the courtroom documents released on January. 9 revealed that Kik objected to the SEC'southward search for a deposition, which may further delay plans.

Cointelegraph reached out to Daniel Roy of Kik's legal team, but had not received a response at press time.

The SEC'south scrutiny on security offerings

Earlier in January, Telegram CEO, Pavel Durov, gave an xviii-hour deposition regarding the company's declared violation of U.S. securities law while conducting its $1.7 billion Gram token sale in 2022.  The SEC questioned Durov extensively on the company'southward expenses and funding used to gear up the business firm. Telegram will have to provide its redacted bank records to the courtroom past Feb. 26.

The SEC is also seeking a default judgment against token sale platform ICOBox and its founder Nikolay Evdokimov. The SEC had sued ICOBox and Evdokimov for operating an unregistered securities offering of roughly $14.6 million worth of digital assets in 2022, and operating as an unregistered securities broker.