Waves, a popular open-source blockchain platform that allows users to launch their own custom cryptocurrency tokens, has officially addressed the false rumors and fake news currently being circulated by less reputable sources in regards to the liquidation of the UK-registered Waves legal entity.
Contrary to many unfounded and incorrect reports, the Waves platform is currently not in any danger — quite the opposite, in fact.
According to an official statement on the company’s blog, the Waves Platform remains fully active and any information on the project’s bankruptcy is false. Furthermore, the company has remained truthful and transparent in following the interests of its investors, and any actions currently taking place are “in total compliance with business ethics and all initial agreements.”
Instead of faltering, the project is currently being streamlined to increase Waves’ overall performance.
The UK-registered entity in question was reportedly active during the project’s early stages and was used primarily for the purposes of marketing and promoting the project. Said entity simply no longer fit into Waves’ business model, and is not representative of any internal or financial issues at the company. Explained Waves’ founder, Alexander Ivanov:
Waves UK company was active in the initial stages of the platform development as a purely operational company. It was announced several months ago that we’re setting up our corporate headquarters in Switzerland, as Switzerland is the major hub for blockchain startups in Europe. The official announcement of the board of directors and launch in Switzerland is scheduled for the end of June. We’re in no way discontinuing our activities in other European countries, including those in the UK. Just the contrary, we’re planning to launch our London office in mid-July.
Waves Platform AG already moved its headquarters to the famously cryptocurrency-friendly country of Switzerland in December of last year.
Contrary to many opportunistic reports floating about, Waves simply chose not to renew the UK-registered entity’s registration in the less cryptocurrency-friendly nation. The Waves team explained:
The change of jurisdiction will allow the project to enhance relationships with counterparties and expand to new markets. The official announcement of company’s launch in Switzerland and the names of advisory board members is scheduled for the end of June 2018.
The Waves team has also noted that the failure to renew the UK-registered entity is actually for the benefit of both the platform’s users and investors. The company stated:
Streamlining is a standard procedure in any international company. Waves moving to Swiss jurisdiction is done solely in the interests of our investors and users, it does not pose any potential threat to them.