Blockchain network Chia Network (XCH) has filed a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission for its proposed initial public offering (IPO), according to a press statement dated April 14. bottom.
Chia Said The size and price range of the proposed product have not yet been determined. Blockchain Network added that the IPO “is expected to commence after the SEC completes its review process.”
In February, CEO Gene Hoffman hinted that the company was working to register with financial regulators. At the time, Hoffman said the company was planning to register Chia’s shares with the SEC to legalize its operations.
Hoffman also argued that the blockchain network’s XCH token is not for sale to the public, so it is not security.
Following the news, XCH rose nearly 9% to $44.253 at the time of writing. crypto slate data.
Chia Introduces ‘Clawback’ Feature
On the other hand, the Chia network introduced Clawback functionality to the blockchain network.
This feature allows users to reverse transmitted XCH and TXCH transactions without affecting blockchain immutability. According to the network, clawback tools offer the same general functionality and security as traditional banks with transaction reversal tools.
“The clawback tool acts as an intermediate coin that cannot be sent to the destination address until the specified timelock expires. Provides a buffer window. ”
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