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Bitfinex calls off K.im token sale following regulatory uncertainty – Cryptocurrency News

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Saloni Sheelwant
Saloni Sheelwant treasures to research and write about the new startups and technologies thriving at a very fast pace.

Bitfinex has canceled a token sale of K.im following regulatory uncertainties. The cryptocurrency exchange reported the decision to be mutual as the risks associated with the sale were prominent. K.im has successfully raised $2.5 billion from Bitcoin capital, BnkToTheFuture, and others and plans on becoming operational by quarter three of the next year.

The cryptocurrency exchange Bitfinex has overturned the token sale of the K.im platform amid regulatory uncertainty. As announced by the exchange, the risks involved in raising funds for the decentralized content monetization network were transparent, and the decision to dismiss the sale was mutual.

“K.im will defer any decision on whether to create tokens on, or undertake a token issue in relation to the K.im platform until it is fully functional,” stated Bitfinex.

The declaration also revealed that K.im will continue to develop its platform and might even make an equity-based offer in the nearing future. K.im plans to come into action by the third quarter of 2020, as per its roadmap. It has successfully raised 2.5 million dollars in funding from Bitcoin capital, BnkToTheFuture, and others.

Had the sale not been canceled, it would have been the first sale on Bitfinex’s relaunched token sales platform.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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