RATE Group | Telegram Founder Due in Court Regarding the “Gram” Cryptocurrency
70478
post-template-default,single,single-post,postid-70478,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Telegram Founder Due in Court Regarding the “Gram” Cryptocurrency

30 Nov Telegram Founder Due in Court Regarding the “Gram” Cryptocurrency

Posted at 21:28h in Cryptocurrency News by

[ad_1]

A federal court is asking the founder of Telegram – Pavel Durov – to testify in the Security and Exchange Commission’s (SEC’s) case against the encrypted messaging service’s latest initial coin offering (ICO) of its new cryptocurrency known as the “gram.”

Telegram Is Trapped in a Big Legal Battle

Telegram has garnered almost $2 billion through the sale of its new gram token, which has been going on since 2018. Overall, the company has done well. The trouble is the SEC is saying they failed to register the token as a security, and a lawsuit has since unfolded. Telegram is asking a New York federal court to dismiss the suit and the charges, claiming that the gram does not share the same properties as other securities.

However, it looks as if for the time being, the suit is being permitted to go forward. Official court documents explain:

Telegram has agreed to stipulate that it will not make any offers, sales or deliveries of its expected cryptocurrency, called ‘Grams,’…

[ad_2]

Source link

Tags:
, , , , ,