Florida-based Lantah claimed to have formed months before Telegram’s blockchain efforts began and that it intended to issue its own GRAM tokens.
The federal assembly had proposed the lifting of the ban for distribution of COVID-19 info in Russia, but another ministry is opposing it.
After months of court battles with the SEC over its TON project, Telegram has withdrawn its appeal against the regulator in what could be the project’s death.
Future entrepreneurs will be wary of proceeding on a SAFT basis, fearing that they will unintentionally be in non-compliance with SEC.
Pavel Durov blames the U.S. government for bringing an end to the TON project, which would have distributed ‘Gram’ tokens to its investors.
Telegram, with nothing left to lose, has agreed to hand over the communications the SEC is seeking in their court battle.
Regulator pressure is forcing Telegram to immediately repay its investors, after a failed offer of grams in the future went nowhere.
Known only as “Investor Z,” the investment company said it wanted to redact its unique analysis of the Telegram ICO from the case.
The judge handling the dispute between the SEC and Telegram confirms the company has to halt all Gram sales to everyone.
The company asserts that the court’s ban on the sale of its Gram digital token only applies to US investors.
Ten separate investors in Telegram’s token are now poised to accept the offer, which would see 72% of investment returned.