Red Pulse CEO Jonathan Ha issued a statement today via their official Reddit informing they have decided to postpone the RPX ICO that was scheduled to begin on September 10th.
Red Pulse is headquartered in Hong Kong, outside of the jurisdiction of China’s ICO ban, and had already implemented measures to exclude US, Chinese and Singapore citizens via a manual Know Your Customer verification process. However, Red Pulse have decided they want to take the time to consult with legal advisors and ensure they are 100% compliant with all related regulations and policies before proceeding further with the sale.
No date has yet been given for the rescheduled ICO.
Red Pulse are providing the option for those who have already invested via the pre-sale lottery to either stay in the sale or receive a refund.
The full statement can be read below –
Thank you everyone for your patience regarding recent regulatory announcements. After consulting with our financial and legal advisers, Red Pulse will be postponing the RPX sale. We are not cancelling the sale, but are planning to spend more time to better understand the current regulatory environment. Red Pulse is headquartered, incorporated, and registered in Hong Kong SAR (#2255299). Our KYC process excludes Mainland China, U.S., and Singapore citizens from participating in the RPX sale. The KYC form will be closed on September 7, as planned.
That being said, 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.
Thank you everyone for your interest and support, and we’ll provide more updates when available.