The CasinoCoin Foundation has rebranded under chief executive Daniel Keller who has outlined his reasons for doing so.
According to the executive, the best course of action moving forward was to establish a new foundation and operating company based in Isle of Man, with the bulk of operations now carried out from the territory.
As part of the rebranding, the company is transferring to a new chain it has established itself. Known as the Eminence chain, stakeholders will be able to replace their CSC tokens with new Eminence coins.
Keller reassured customers of the legitimacy of the product and said it will be registered with the Isle of Man Financial Services Authority through the Designated Business Act. It will also comply with Know Your Customer (KYC) and Source of Coins (SOC) best practice.
The new chain will be live within 30 to 120 days but the CSC will remain operational until such a time that the new Eminence chain is fully operational and does not need any existing backing from the previous iteration.
Commenting on the transfer to a new chain, Keller said that the decision to do so has not been taken lightly and that what he described as the irresponsibility of some members has led to the rebrand.
He said in the press release that some stakeholders have been more supportive than others in the transition, which is understandable.
If anything, CasinoCoin has established itself as a tacit player in the crypto gaming market, not stirring unnecessary noise and always speaking out when there is something worth saying.
The transition to an Eminence coin puts the project ahead of a big challenge, but it also allows it to break ties with individuals Keller is no longer willing to work with if they are not looking out for the best interest of stakeholders.
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