Enigma ICO project will return investors $ 45 million at the request of SEC

The US Securities and Exchange Commission (SEC) demanded that the Enigma ICO project return funds to investors. AboutThis is reported on the department's website.

The Enigma token sale of $ 45 million held in 2017, the Commission qualified as illegal distribution of securities. The startup is also fined $ 500 thousand.

“All investors have the right to receive certain information from issuers regarding the offer of securities, regardless of whether these are traditional assets or newer ones”, Said John T. Dugan, spokesman for the SEC Boston regional office.

Companies will have to register their coins as securities and periodically submit reports to the SEC.

Note that on February 13, the Enigma project launched the main network based on the Cosmos SDK / Tendermint PoS technology.

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The Catalyst project being developed by the startup is a platform for algorithmic trading and investing in crypto assets.

Recall that at the beginning of the year, the SEC warned about the risks of investing in primary exchange offerings (IEO).