Release token Telegram from suspend. They do not like the controller?

On the way to the long-awaited launch from the token Telegram appeared a serious obstacle in the form of a Commission at the securities and exchange Commission (SEC). As reported on the Agency’s website, the financial regulator issued a demand for the suspension of the ICO closed in the course of which the company Pavel Durov managed to raise more than 1.7 billion dollars from large investors.

We will remind, more recently, problems with the launch of its own token appeared in Facebook. A week ago the Association of Libra left PayPaltonight from participation in the launch of the project was abandoned eBay, Stripe, Visa and Mastercard.

What will happen to Gram?

An offer to purchase the token Telegram was published in January 2018. The company began raising funds to develop its own blockchain TON. It was assumed that the team of Pavel Durov had to collect 600 million dollars at the stage of presale, and another 700 million dollars under the public offer tokens.

According to the official release of the SEC, 2.9 billion 171 Gram were sold to the investor for a reduced price. 39 of them are residents of the United States — they sold more than a billion tokens. In the Telegram was planning to distribute the tokens to the end of this month, but now the company has stepped in SEC. Telegram was accused of refusing to register the sale of the tokens that are supposedly considered securities and must be regulated accordingly. Co-Director of the Department of execution of decisions of the SEC Stephanie Avakian commented.

Our emergency actions today are intended to prevent flooding of the US market digital tokens from the Telegram, which, we argue, was sold illegally. The Issuer of the token was not able to provide investors with full information about Gram, Telegram activities, financial position, risks and legal requirements regarding securities.

Source: Bloomchain

Co-Director of the Department of execution of decisions of the SEC Steven Peikin added that issuers cannot avoid Federal securities laws by renaming their product in the cryptocurrency or digital token.

Telegram tries to use the advantages of a public offering without complying with long established responsibilities that are created to protect the interest of investors.

The process of developing a TON was conducted rather secretly, some details about the blockchain was published only last month. A few days ago the Telegram published the conditions for the use of his own purse Wallet Grams. By the way, Coinbase already pre-announced support for token-Grams.

Now the situation with Telegram Open Network stuck. The Commission on securities and stock exchanges of the USA have spoken, now is the time to meet the representatives of the Telegram. By the way, at the end of September in a similar situation EOS. The company raised 4.1 billion dollars for the "sale of unregistered securities" and paid a fine of $ 24 million. It is not excluded that this time will be something similar.

What will be the answer of Pavel Durov? Tuned around what’s happening follow our cryptodata millionaires!

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