In Today’s Crypto Minute: KODAKCoin STO set to begin, WeChat suspends third party blockchain app, and Indian police raid Ethereum miner installation.
KODAKCoin STO Set to Begin Later This Month
According to CryptoCoinNews, Kodak will go ahead with plans to hold their STO later this month. Initially planned for a January 2018 start, the KODAKCoin STO will be one of the most anticipated token sales of the year so far. CEO Jan Denecke has stated that the token sale will “fully comply” with Securities Exchange Commission guidelines. According to reports the STO will be hosted on Cointopia.
WeChat Suspends Third-Party Blockchain App
WeChat, one of the most popular messaging applications in China, has suspended a third-party blockchain program on it’s platform. According to Coindesk, Xiao Xieyi (Mini-Protocol) has been suspended after WeChat found that “the type of its service is not yet authorized by the platform”. Mini Protocol was allowing users on WeChat to initiate contractual agreements, and was seen as massive step in presenting blockchain technology to the mass population.
Indian Police Raid Ethereum Miner Installation
According to CryptoCoinNews, Indian police raided an Ethereum mining installation this past week after its operators were found to have been allegedly running multi level marketing schemes that conned investors out of approximately $15 million dollars. The two individuals behind the mining operation solicited investors to invest in gainbitcoin.com and bits2btc.com, two websites which promised returns in bitcoin and are now completely defunct.