Telegram is awaiting a court hearing in the SEC case against it’s token sale | Shelter Crypto | Shelter Humanity | Charity Token Homeless | Charity Coin

Charity Coin





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 offering round saw private investors pay $1.33 each.


Gram is the native token of Telegram Open Network (TON), a cryptocurrency that facilitates smart contracts. It also plans to provide users of the instant messaging app, more than 300 million according some estimates, with a digital payment system. Each person will be given a TON wallet.


Telegram is awaiting a court hearing in the SEC case against it’s token sale


The gram token is used to pay for applications that are built on the platform. These include decentralized data storage, TON based domain names registration and privacy-oriented systems and features that can bypass censorship. Grams will also be available for external use and can be traded on digital assets exchanges just like other cryptos.


SEC Lawsuit Could Postpone Gram Release Date


The project’s future has been hampered by the legal uncertainty created since the SEC announcement. TON developers wrote to investors to express their disappointment at the regulator’s abrupt crackdown. This came after Telegram attempted for more than a decade to acquire the SEC position on the offering.


The team is looking at different options for addressing the move by the commission. One option is a delayed start. Another option is to launch a reduced version of this project by the end the month, as promised to TON Investors. Yakov Barinsky (head of the Russian crypto-investment company Hash CIB) commented via Russian media outlet Tass

You might be interested in …

cheap SSD dedicated servers

Comparison of paid and free hosting: What are the problems with free hosting?


FacebookTwitter    Hosting is not free   To put it mildly, free hosting is a marketing tactic. Free hosting is offered by companies to sign up for their platform. After you sign up as a customer and begin creating a site, you’ll quickly realize that it is almost impossible to maintain and create a website […]

Read More
2022 Australia Calendars

Kansas City Royals vs. Oakland Athletics – 2022 Australia Calendars


FacebookTwitter    As if things were not bad enough for the Royals — their losing streak extended to 11 games Tuesday night with an 8-5 loss to the Tigers – and there chances worsened on their strive to make it to the playoffs this year; according to all Sportsbook odds. The Royals are searching for […]

Read More
Translation Services UK

Business card service at Translation Services UK


FacebookTwitterOur business card service is a specialised service we have been providing to agencies and printers since 1991. This is where we transliterate the names of the person and the company, and translate the job title. Our in-house typesetting studio then returns them in the electronic format of your choice, in the style and layout […]

Read More