John Hyman apparently knew quite well Telegram might be offering a security, and the SEC case looks to be built on his work.
Telegram CEO Pavel Durov and two employees will have to give their side of the story to keep the TON project alive.
The messaging app asked the U.S. courts to dismiss the action raised by the SEC, rejecting suggestions that its token sale was an unregulated securities offering.
The Bitcoin ecosystem continues to advance at a steady pace as it becomes more mature and integrated into everyday life.
Investors in messaging app Telegram have agreed to a plan that would delay the launch of their native token TON.
The SEC has received confirmation that Telegram had been in contact with at least one crypto exchange in an effort to have Gram listed by the exchange.
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.
Telegram might use a small clause in their investment contract to hold onto as much investment money as possible.
The SEC is making plenty of news, with clearer rules for MSBs and an action to stop Telegram in its tracks.