About the settlement
Read the SEC order here.
Update as of May 14, 2019: Outstanding SEC staff comments on Airfox’s Form 10 continue to be addressed. As a result, and after discussions with the SEC staff, the claims process is not expected to begin until June 28, 2019.
In November last year, Airfox reached a historic settlement with the U.S. Securities and Exchange Commission (SEC) related to the issuance of AirTokens in our October 2017 initial coin offering. As part of the settlement, Airfox is one of the first blockchain companies to file a Form 10 and register with the U.S. Securities and Exchange Commission (SEC) under 12(g) of the Securities Exchange Act of 1934. The Form 10 automatically becomes effective within 60 days after the filing.
With the filing for the Form 10, AirToken now may become one of the first registered tokens in the United States under the Securities Exchange Act of 1934. This is a path to compliance with federal securities laws, and we expect it to provide the regulatory certainty needed to spark the next wave of innovation. Once the Form 10 is effective, Airfox can post the final Claim Form, and the claims period will open.
Airfox is committed to transparency and compliance with emerging government guidelines. To facilitate a fair claims process, AirToken transfers remain temporarily paused. After the rescission period is complete, Airfox expects to be able to open trading of the token again.
During this period, Airfox plans to be actively working to have exchanges or other trading platforms ready to go live when this period is over. For updates on this, join us in Telegram or follow us on Twitter. Also refer to the Amended Terms and Conditions of AirTokens.
Download the instructions and draft claim form for rescission here. The claims period has not started yet. Airfox submitted the Form 10 on March 15, 2019. The claims period will start within 60 days after the Form 10 is filed.
Airfox will continue working to democratize financial services for the billions of unbanked in emerging markets. To learn more about what's next for Airfox, read this. The updated Airfox white paper, which details the company’s expected roadmap is available here.