Additionally, Enigma agreed to pay a $500,000 penalty, register its ENG Tokens as securities, and filed periodic reports with the Commission.
Furthermore, the blockchain tech startup agreed to cease and desist from committing or causing any violations of the registration provisions of the federal securities laws.
Enigma agreed to settle without admitting or denying the allegation of the SEC.
In a statement, SEC Boston Regional Office Associate Director John Dugan said, “All investors are entitled to receive certain information from issuers in connection with a securities offering, whether it involves more traditional assets or novel ones.”
The remedies in today’s order provide ICO investors with an opportunity to obtain compensation and provide investors with the information to which they are entitled as they make investment decisions,” he added.
On the other hand, Enigma said its settlement with the Commission “clears the way for our development team to focus fully on our original and continued vision: building groundbreaking privacy solutions that improve the adoption and usability of decentralized technologies, for the benefit of all.”
