Telegram is the most widely used messaging app in the crypto community. However, there are challenges surrounding its TON blockchain launch. The U.S. securities regulator intervened and a court hearing was scheduled on the sale native gram tokens. This is a week before the network went live. Check out more about Charity Coin
NY Court to Review SEC Against TON Complaint
The United States Securities and Exchange Commission (SEC), announced last week that it had received a temporary restraining or for Telegram’s allegedly unregistered cryptocurrency offering. According to the SEC’s lawsuit, the Court for the Southern District of New York (City for the Southern District of New York) will review the case against the messenger for his ICO on October 24, according to the SEC.
Telegram’s anticipated initial cryptocurrency offering (ICO), was privately conducted last year. The sale of 2.9billion tokens raised $1.7billion. According to the commission investors based in the United States bought GRM tokens valued at approximately 25 percent of that amount, which is around $425m. Telegram Group Inc. was mentioned along with its subsidiary TON Issuer Inc.
Telegram is awaiting a court hearing in the SEC case against it’s token sale
Secondary sales were conducted before the coin’s official release date. This is considered illegal fundraising using an unregistered offering digital tokens. Gram Asia, an early investor offered to sell its rights on grams on the Japanese exchange Liquid this Summer at $4 per token. The second token …