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No Rush to No-Action Letters — The Information

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For TurnKey’s planned token sale, the company agreed to build the platform before issuing any tokens for it, to diminish the suggestion of speculative investment; the token can only be exchanged among wallets on its platform; and each token is sold at $1 and redeemable for $1 worth of air charter services.

From No Rush to No-Action Letters — The Information.

In other words, they will be creating a closed electronic money scheme.

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