Red Pulse has made an announcement that the company will be postponing the Red Pulse ICO token sale. It was slated to take place from September 10th – 24th 2017. The company has consulted its financial and legal advisers and they have come to conclusion that they need more time to better understand the current regulatory environment. Their new KYC process ensures that no citizen from China, USA or Singapore is able to take part in the token sale. This will definitely effect in Red Pulse ICO in a negative way as considerable investment was expected to come from those countries, especially China.
The company says,
We want to ensure we are 100% compliant with all related regulations and policies before moving forward. We are consulting with tax, advisory, and legal professionals that have prior experience with ICOs, and will do everything in our ability to ensure we are operating according to government policies and legal boundaries.
ICOs are now illegal in China that has forced Red Pulse to postpone its token sale date. Red Pulse ICO was slated to be the first Neo ICO. The Neo is touted as Chinese Ethereum suffered massive reduction in its price as the company behind Neo is also based on China. It shall be noted that ICOs have been banned – not the crypto currencies but who knows Chinese government – they can get those ban too.
September 5, 2017
| NEO News