Kodak delays cryptocurrency launch

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Kodak has announced it will delay the launch of its KODAKCoin cryptocurrency in order to give the company time to vet the surge of potential investors.

Kodak sent out a press release stating that it needs time to verify the accreditation of the more than 40,000 potential investors who have expressed an interest in KODAKCoin.

Kodak says in its statement:

We will be contacting all potential investors that have previously registered for the ICO shortly for additional information to confirm their “accredited investor” status. The KODAKCoin ICO is being offered pursuant to an exemption from registration under the US Securities Act of 1933 provided by Rule 506(c) of Regulation D thereunder. As a result, participation in the KODAKCoin ICO is open only to those investors deemed to be “accredited investors” under Regulation D (e.g., any natural person (i) whose individual net worth, or joint net worth with his or her spouse, exceeds $1 million, or (ii) who had an individual income in excess of $200,000, or joint income with his or her spouse in excess of $300,000, in each of the two most recent years, and has a reasonable expectation of reaching the same income level in the current year). In addition, the KODAKCoin ICO will be offered outside the US to select non-US persons in accordance with the applicable laws of each jurisdiction where such offers and sales occur.

What’s more, Kodak stated that it has become aware of a number of spam KODAKCoin websites and Facebook pages claiming to sell tokens. Kodak says the only official website selling tokens is www.KODAKCoin.com.