Chia Network (XCH) is making progress toward an IPO, according to CEO Gene Hoffman.

After regulators sent the company a comment letter, the company confidentially filed a revised Form S-1 with the U.S. Securities and Exchange Commission in late March, CEO Gene Hoffman said at a conference hosted by law firm Brown Rudnick in Manhattan. However, the IPO schedule has not yet been confirmed as the company is waiting for the right market conditions, he later told CoinDesk.