Ken can no longer pay divs on these unregistered Securities - banned by the MSD ruling.

If Ken registered the Securities only people with a high net worth of around 2MILL USD can receive divs = no-one.

IF Ken went to Coloured Coins for divs the MSD will rule (just as they did with these virtual shares on a virtual exchange bought for virtual money) that the CC are also Securities and divs are divs and Ken would go to prison for a breech of the MSD ruling.

Therfore Ken can never ever issue another div. Not even one.