In an accompanying note, pre-sale KODAKCoin, said the turnover of the token may be severely limited. At the same time, attracting investment is not through the classic ICO and by entering into a simple agreement (SAFT).
WENN Digital, the company-Issuer of cryptocurrency is concerned about the possible restrictions imposed by the securities and exchange Commission (SEC). In that case, if the Supervisory Agency to equal the cryptocurrency securities, the company will have only two choices: register (which is contrary to the idea of independence of virtual assets from financial institutions and government) or work with the restrictions imposed on the resale of tokens and the amount of a single transaction.
WENN Digital insists that their cryptocurrency is equivalent to the stock of the utility, however, does not exclude the possibility that the SEC may approve a different definition:
“WENN Digital try to take formal or informal action to bring our vision to the Commission. If KODAKCoin will be finally added to the securities […] we have to work with significant restrictions […] imposed by the securities Act, if it is not possible to obtain an exemption from registration.”
It is worth noting that the company made this statement at the time, presumably as the SEC is investigating SAFT method in the context of the overall investigation the ICO.
At the same time, it is unknown how long will last sales. In a Whitepaper draft is not specified a specific time frame. On the official website KODAKCoin in the message of February 5, said: “the ICO is moving at full speed”.
Recall that after the announcement of its cryptocurrency in January this year, Kodak was able to increase the value of their shares at 120%.