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Renren, “The Facebook of China,” Cancels ICO
Renren, “The Facebook of China,” has cancelled its plan for an ICO after Chinese regulators discouraged the company from carrying it out. As reported by Bloomberg, Chinese regulators declared ICO illegal in September 2017. Neither Renren nor the People’s Bank of China commented on the issue.
Switzerland Created Blockchain and ICO Enforcement Task Force
The Swiss government the Taskforce Blockchain to enforce its regulatory framework on blockchain startups and ICOs. According to Coindesk, the Swiss Finance Minister, Ueli Mausrer, and the Swiss Economics and Education Minister, Johann Schneider-Ammann, are leading the task force. The Taskforce Blockchain’s first meeting will be held on January 12, 2018.
Kodak’s Stocks More Than Doubles After Announcing Blockchain-Based Rights-Management Service
According to Business Insider, Kodak’s stock increased 127 percent on January 9, 2018 after the company announced it is launching new blockchain-based rights-management service. The proposed service will enable photographers get paid for the use of their images. The service will crawl the internet for unlicensed use of photographs, and the service will then help photographers get paid for those photographs.
Dimon Expresses Regret Over Calling Bitcoin a Fraud in September 2017
In an interview with Fox Business, Jamie Dimon, the CEO of JP Morgan, admitted that he regretted calling Bitcoin a fraud in September 2017. However, he also claimed that he is “not interested” in cryptocurrencies or blockchain technology at all. According to the Independent, Dimon specifically referred to Bitcoin as a bubble that was “worse than tulips bulbs.”