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SEC Settles Charges Against Blockchain Technology Startup Enigma MPC

Ramsey Baker

Summary: The United States Securities and Exchange Commission (SEC) has announced the settlement of their charges against blockchain technology startup Enigma MPC for conducting an unregistered initial coin offering (ICO). The San Francisco-and-Israel-based Enigma MPC raised around $45 million by selling 75 million digital tokens (“ENG Tokens”) in an ICO in 2017. Enigma and its promoters ...

The United States Securities and Exchange Commission (SEC) has announced the settlement of their charges against blockchain technology startup Enigma MPC for conducting an unregistered initial coin offering (ICO).

The San Francisco-and-Israel-based Enigma MPC raised around $45 million by selling 75 million digital tokens (“ENG Tokens”) in an ICO in 2017. Enigma and its promoters reportedly told investors the funds would be used to develop a digital asset trade-testing platform (the “Catalyst Application”) and to build a data marketplace for cryptocurrency-related data. Enigma also planned on using the funds to develop a marketplace for other forms of data as well (the “Enigma DataMarketplace” or “DataMarketplace”).

By Ramsey Baker

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