Privacy-Focused Enigma Files With SEC for ENG Token
Blockchain startup Enigma filed a registration statement for its ENG token with the U.S. Securities and Exchange Commission.
According to the document published on the SECâs portal Friday, the registration statement is tied to the privacy-focused firmâs February settlement with the regulatory body regarding the projectâs 2017 initial coin offering (ICO).Â
- The projectâs registration statement notes the ENG tokens are currently used as a payment tool on the projectâs data network and shouldnât be viewed as resembling traditional securities.Â
- âENG tokens lack features of such securities, including the right to receive a dividend or distribution; ENG tokens also do not provide holders with any voting, liquidation or preemption rights,â the projectâs registration statement notes.Â
- According to the filing, once the registration statement becomes effective Enigma would be subject to the Exchange Act, which means it would be required to file an annual 10-K, quarterly 10-Q and current 8-K reports.Â
- Enigma is one of the development companies working on the Secret Network. Earlier this week, âsecret smart contractsâ were also launched on the networkâs mainnet and the âSecret Networkâ is now focusing on scaling and building connections to public networks such as Ethereum and Cosmos Hub.
- The Secret Network also announced a partnership with, and investment from, Hashed, a blockchain firm in Asia. The investment is for an undisclosed amount.Â
Benjamin Powers contributed reporting.
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