Bitfinex Confirms the Token Sale has Been Postponed due to Regulatory Concerns

Exchanges are often involved in the process of launching new tokens and cryptocurrencies. Bitfinex, while originally scheduled to help launch Kimcoin, is now holding back on that decision.

It was known for some time Bitfinex would introduce the sale of Kimcoin. This will be done through the company’s Token Sale platform. 

It is a common practice among trading platforms to explore these kinds of options. 

No Token Sale on Bitfinex

It now appears this token sale will not occur as originally planned. Bitfinex cites the recent changes in regulation are forcing their hand in this matter.

According to the company, there are risks associated with raising funds for the token. As these risks are now clear as day, the company will put the best interests of its community above anything else.

While the deal is not off completely, the token sale is postponed indefinitely. 

The team will announce any further decisions regarding their token. This is not expected to occur prior to the platform becoming fully operational. 

Bitfinex leaves the door open for a future equity-based offer regarding the project. Whether or not such an offer will ever be made available, has not been confirmed by either party. 

Despite the setback, the Kimcoin project will continue its development. This seems to indicate the team has plenty of funds to make that happen.

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JP Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

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JP Buntinx

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