This article was first published on Stories by Enigma Project on Medium
March 4, 2020 (SAN FRANCISCO/TEL AVIV) — Enigma MPC, Inc. (“Enigma” or the “Company”), a company that develops a blockchain technology based cloud platform to store, share, and analyze data while maintaining privacy, announces that it has reached a settlement with the U.S. Securities and Exchange Commission (“SEC”) related to Enigma’s issuance of ENG tokens in its September 2017 initial coin offering.
The settlement with the SEC provides for the entry of an administrative cease and-desist order, which was issued on February 19, 2020 and requires, among other things, compliance with certain provisions of the federal securities laws (the “SEC Order” or “Order”). Under the terms of the Order, the Company will register ENG tokens under Section 12(g) of the Securities Exchange Act of 1934 as a class of securities, maintain that registration and make timely filings for at least one year, and pay a civil money penalty of $500,000. In addition, the Company will administer a claims process available to those who purchased ENG tokens from the Company before and up to September 11, 2017. Such purchasers who elect to participate and timely submit a completed Claims Form along with certain required supporting documentation will be permitted to tender their ENG tokens to the Company in exchange for payment of the amount due under Section 12(a) of the Securities Act of 1933. The Company will distribute a Claims Form in accordance with the terms of the SEC Order. The Company also will submit monthly reports to the SEC of the claims received and paid, as described in paragraphs 4, 5, and 6 of the Undertakings in the SEC Order.
“We are pleased to be moving forward as a company and as a community,” said Guy Zyskind, CEO and co-founder of Enigma. “This settlement, which is the culmination of an extended ...
To keep reading, please go to the original article at:
Stories by Enigma Project on Medium