On March 8, Thursday, Kodak’s partner in the cryptocurrency project, the WENN Digital blockchain developer, sent a letter to potential investors, which contained a reference to the “light paper” of the project.
“Although WENN Digital plans that KODAKCoin, produced as part of SAFT, will be classified as a utility token, and not as a security, the company must take a final decision on the status of the token at the time of its release. In this regard, WENN Digital can officially or unofficially apply for support to the SEC staff, ” the document says.
Such a decision was announced by the company following the new SEC regulations: on Wednesday the commission announced that cryptoexchanges are required to register with the SEC as national stock exchanges, alternative trading systems or brokers, if tokens falling within the definition of securities are traded on their platform.
As it became known at the end of February, the SEC opened the ICO hunt, sending dozens of new agendas, and, according to several experts, the main target may be those projects that, within ICO, are selling a “simple agreement for future tokens” (SAFT).
As reported in “light paper” Kodak, within the framework of SAFT the company is going to sell to accredited investors 100 million KodakCoin. Announced on January 9, the blockade project Kodak is designed to help photographers protect copyrights to their work.
Write: Sara Bauer