It is with great disappointment that Kik has made the hard decision to exclude Canadian residents from the upcoming Kin token distribution event (TDE). If you are one of the 15,000 people from over 130 different countries who has already registered to participate in the Kin TDE, you will be able to join this project on day one. If you live in Canada, you will not.
This decision comes after weak guidance from the Ontario Securities Commission. Despite setting up Kin to have one of the most fair TDEs to date, and despite our best efforts to work with the OSC, they have failed to give us clear direction on when Canadian securities law will or, more importantly, will not apply. Our Kin project needs to move forward, so to avoid risks arising from this uncertainty, we, a Canadian company, have decided to move forward without Canada.
We are going through an amazing, transformative period in history — a technological revolution — and Canadian companies are in a position to lead. If innovation is to play an important role in Canada’s economy, we can’t afford to let this innovation go elsewhere.
To all our Canadian family and friends, we appreciate your support and are sorry. Given the nature of crypto, you will be able to join the project later in the secondary market, but you will not be able to be there from the start. If you want to share your point of view, we encourage you to contact the OSC Launchpad at the Ontario Securities Commission: email: firstname.lastname@example.org; Twitter: #OSCLaunchPad.