XCH jumps 8% as Chia Network submits proposed IPO registration to SEC

Blockchain web Chia Network (XCH) submitted a draught registration connection connected Form S-1 for a projected archetypal nationalist offering (IPO)to the U.S. Securities and Exchange Commission, according to an April 14 property statement.

Chia said the size and terms scope for the projected offering were yet to beryllium determined. The blockchain web added that the IPO “is expected to commence aft the SEC completes its reappraisal process.”

In February, CEO Gene Hoffman hinted that the institution was moving to registry with the fiscal regulator. At the time,  Hoffman said the institution planned to registry Chia equity with the SEC to marque its cognition legal.

Hoffman besides argued that the blockchain network’s XCH token was not a information due to the fact that it had not been sold to the public.

Following the news, XCH roseate by astir 9% to $44.253 arsenic of property time, according to CryptoSlate data.

Chia introduces ‘clawback’ feature

Meanwhile, the Chia web has introduced a clawback diagnostic into its blockchain network.

The diagnostic would let its users to revert sent XCH and TXCH transactions without impacting the immutability of the blockchain. According to the network, the clawback instrumentality provides the aforesaid wide functionality and information arsenic accepted banks with transaction reversal tools.

“The clawback instrumentality functions arsenic an intermediate coin that cannot beryllium sent to a destination code until a designated clip fastener has expired. The timelock offers a buffer model for users to “claw back” and instrumentality the intermediate coin to their wallet arsenic modular XCH.”

The station XCH jumps 8% arsenic Chia Network submits projected IPO registration to SEC appeared archetypal connected CryptoSlate.