Tag Archives: sec

Telegram has ended its dealings in cryptocurrency. An encrypted messaging service, Telegram initially announced a token sale of its new “GRAM” token, which garnered the company more than $1 billion in additional funds, but thanks to a longwinded fight with the Securities and Exchange Commission (SEC), it looks like the GRAM is never going to get off the ground.The Battle Is Lost for TelegramThe GRAM token was supposed to work in cahoots with the company’s new TON blockchain. Customers of the...

The TON blockchain marked its independence day on May 7, after a group of developers hardforked the code initially meant to be used exclusively by Telegram.As Telegram remains embroiled in a legal saga with the United States Securities and Exchange Commission (SEC), an independent group of validators and developers elected to bypass the regulatory furor by launching the open-source Free TON.TON’s Declaration of DecentralizationTaking advantage of a loophole that may be the first of its kind,...

The popular messaging application Telegram has delayed the release of its Gram tokens until April 2021 due to the pressure inserted by the SEC and US district courts. The company is offering two options for investors to reimburse their investments or to allocate them into the messaging app.Telegram Postpones GramPavel Durov’s company has sent a letter to all Telegram Open Network (TON) investors – the blockchain network behind the future cryptocurrency Gram. The token will not be issued by...

Several cryptocurrency exchanges and token issuers are being sued by investors across the United States who claim they were sold unregistered securities. Among the companies or entities being sued are Binance, Tron, Block.one and BitMEX. Entities like Ku Coin, Bibox and Bancor are also facing lawsuits from early investors.Block.One is Just One of ManyAs the cryptocurrency arena has expanded over the years, the demand and necessity for legitimacy have expanded with it. Many investors are...

Binance, Block.one, BitMEX, BiBox, KayDex, BProtocol, Status and TRON Foundation received the class-action lawsuits. The lawsuits claim that those companies were selling or helping with the selling of unregistered securities.Binance, Block.one, BitMEX, TRON Foundation, BiBox and others received an astral hit. Well, not quite astral, but rather juridical. Because the regulators are mad when someone is doing things wrong.All the lawsuits are filed to the Southern District of New York. Per the...

Encrypted messaging service Telegram is putting up a fight with the Securities and Exchange Commission (SEC).Telegram Is Duking It Out with the SECThe company is in hot water after the government organization claimed Telegram had failed to properly register a token offering a few years ago that resulted in more than $1 billion in revenue for the messaging service. The enterprise made quite a bit of money after promising delivery of its new “gram” tokens to several individual investors, though...

Telegram cannot sell Grams outside of the U.S. either, even after the company argued that the tokens wouldn’t reach American investors. New York Judge, however, found those claims insufficient as Telegram couldn’t adequately address them.Telegram’s Issues Spiral OnAs Cryptopotato reported last week, U.S. District Court officially halted the Gram tokens sale following a lawsuit filed by the Securities and Exchange Commission (SEC).Telegram, the firm behind the future blockchain-based project,...

Santander’s Ripple-powered payments solution, which is set to launch in Mexico, will enhance transparency in operations, improve speed in sending and receiving payment.Aiming at improving transparency, efficiency, and general client satisfaction Spanish bank Santander is going to launch its Ripple-powered payments solution in Mexico later in 2020.This has become known from a Form 20-F filed with the U.S Security and Exchange Commission (SEC) earlier this month, where the Spanish bank revealed...

Ex-CFTC chief’s Digital Dollar Initiative adds 22 new advisors and will release a white paper in the next two months. The Digital Dollar is serious as never, as ex-CFTC, FED, Treasury board directors join the venture.Chris Giancarlo is gathering the industry’s top minds around what could soon become the Bitcoin killer for institutions. The Digital Dollar initiative is serious as never, as ex-CFTC, Treasury board directors join the venture. Digital Dollar Foundation (DDF) issue a press...

The popular encrypted messaging application Telegram won’t be able to issue its GRAM tokens, for now. This becomes clear as a US District Court granted an injunction against the company in its lawsuit filed by the Securities and Exchange Commission (SEC).Howey Test Positive: GRAM Are SecuritiesTelegram’s GRAM sale has been officially halted following a lawsuit filed by the US Securities and Exchange Commission. According to a document issued by a United States District Court on March 24, the...