Renowned blockchain startup firm Enigma has filed a legal registration letter for its ENG token with the United States SEC [Securities and Exchange Commission].
In line with the official documents published by the SEC’s, the registration statement is tied to the privacy-focused firm’s February settlement with the regulatory body regarding the project’s 2017 ICO.
The project’s registration letter adds the ENG tokens are presently used as a payment tool on the project’s data network & shouldn’t be viewed as resembling traditional securities.
“ENG tokens lack features of such securities, including the right to receive a dividend or distribution; ENG tokens also don’t offer holders with any voting, liquidation or preemption rights,” the project’s letter added.
As per the filing, once the registration statement becomes effective Enigma would be subjected to the Exchange Act, which suggests it might be required to file an annual 10-K, quarterly 10-Q & presently 8-K reports.
Enigma is one of the renowned firms working on the secure & secret Network. Also earlier this week, “secret smart contracts” were also launched on the network’s mainnet and therefore the “Secret Network” is now focusing on scaling & building connections to public networks like Ethereum [ETH] & Cosmos Hub.
The Secret Network also revealed its new collaboration with, and investment from, Hashed, a blockchain firm within Asia. The investment is for an undisclosed amount.