Privacy based Blockchain Startup Enigma Files for ENG Tokens with SEC

Blockchain privacy startup Enigma settles with the SEC over its 2017 token sale, has filed a registration statement for ENG tokens.

By · Sep 21, 2020 . 5min read

Enigma Blockchain startup latest news
Photo by Pierre Bamin on Unsplash

The blockchain startup firm Enigma has filed a legal registration letter for its ENG token with the US Securities and Exchange Commission (SEC). In line with the document published with the SEC’s official documents, the registration statement is tied to the privacy-focused firm’s February settlement with the project’s 2017 ICO’s regulatory body. In February, Enigma resolved a lawsuit accusing it completed a securities sale during its IPO. It settled the filing with a $500,000 fine. It also agreed to reimburse funds to investors who purchased into its $45 million ICO. 

The project’s registration letter states that the ENG tokens currently operate as a payment tool on the project’s data network. As per the filing, once the registration statement becomes active, Enigma will be under the Exchange Act. This indicates that it has to file an annual 10-K, quarterly 10-Q & presently 8-K reports.

Enigma’s Secret Network

Enigma is one of the renowned firms working on the secure & secret Network. Earlier this week, “secret smart contracts” were also launched on the Network’s mainnet. Therefore, the “Secret Network” is now concentrating on scaling & strengthening connections to public networks like Ethereum [ETH] & Cosmos Hub.

Secret Network is the first blockchain to enable privacy-preserving smart contracts. This indicates applications developed on Secret can utilize encrypted data without disclosing it to anyone, even the nodes in the Network. Secret Network is a proof-of-stake network with a native coin, Secret (SCRT). It helps in staking, governance, and network fees. Community members stake SCRT to run Secret Nodes and earn a share of fees and network rewards. The Secret Network also unveiled its new association with, and investment from, Hashed, a blockchain firm within Asia. The investment is for an undisclosed amount.

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