The blockchain project Enigma has filed with the U.S. Securities and Exchange Commission (SEC) for ENG token registration. According to документу, ENG is used as a payment instrument in the Secret Network, one of whose developers is Enigma.
«ENG tokens do not possess the characteristics of securities, including the right to receive dividends or distributions; they do not confer to their holders any rights to vote, liquidation or pre-emptive rights», — the filing states.
The published document also mentions a February agreement between Enigma and the SEC, under which the company agreed to pay a $500 000 penalty and return the investments to participants in the 2017 token sale. The Commission characterized the campaign that raised $45 million as an unlawful sale of securities.
Once the registration statement becomes effective, Enigma will be subject to the Securities Exchange Act’s Section 13(a) requirements, including annual Form 10-K filings, quarterly Form 10-Q filings, and current Form 8-K filings.
Secret Network, oriented toward greater user privacy, is the successor to Enigma Protocol and uses «secret» smart contracts. The concept was presented by the developers in 2018, and this week the technology was launched on the project’s mainnet.
The secret is out! Privacy-preserving «secret» smart contracts are now LIVE on Secret Network.
Learn about the launch, initial #DeFi apps, our new strategic partnership with @hashed_official, and what’s next as programmable privacy comes to blockchains! https://t.co/3pdfDQjWFf
— ecret Network (@SecretNetwork) September 15, 2020
The focus at the moment is on further scaling of the network and its connections with the Ethereum and Cosmos blockchains.
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