Telegram was set to take on the U.S. Securities and Exchange Commission in court this Thursday, but it now looks like it’s going to have to wait.
Telegram was recently orderd to bring to a halt its activity surrounding the TON (Telegram Open Network) and associated Gram cryptocurrency.
After the SEC obtained a restraining order against the launch of the TON network, Telegram is now asking its investors to consent to the extension of the deadline.
The week has had everything, from raising millions of dollars in funding, to regulators cracking down on fraudulent projects to adoption by major brands. Oh, and Libra sunk into more problems which led to its backers backing out.
The regulator is set to settle with Middleton, the man it accused of raising $15 million in an illegal securities sale.
The U.S. Securities and Exchange Commission and Nebulous have shaken hands and come to an equitable agreement.
The regulator had accused Longfin of falsifying its SEC filings and conducting a fraudulent public offering, which the court found the firm guilty of.
Patrick Byrne, the former CEO of Overstock, is facing a class-action lawsuit that accuses him, as well as former CFO Greg Iverson, of securities fraud.
Now unable to access the funds, Middleton is crying foul and wants the SEC to release the money while alleging that the freeze is only hurting investors.
The government body still can’t seem to get its head wrapped around the idea taking a decision on the subject and has postponed forward progress on three different ETF proposals.