Enigma's block-start-up Enigma, which previously went on to settle claims with the U.S. Securities and Exchange Commission (SEC) because of its token mailing in 2017, filed an official application for registration with the agency.
The document published today refers to the Enigma agreement with the SEC signed in February 2020. Then the startup, without admitting or denying its guilt, paid a $500,000 fine and undertook to return the investment to the participants of the $45 million ICO. The SEC stated that the Enigma ICO was an unregistered sale of securities.
"As soon as this registration application is effective, we will be subject to the requirements of section 13(a) of the Exchange Act, including, inter alia, the submission of annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, as well as all other requirements that apply to registered issuers," Enigma writes.
The document also mentions the Secret Network project, which is the "successor to Enigma Protocol" and uses a Cosmos SDK-based blockchain with its own SCRT token. Currently, ENG holders are encouraged to swap their tokens to SCRT in order to then use them for decentralized protocol level management.