RATE Group | Telegram Responds to Investors on SEC Action, Hearing Set for Oct. 24
65296
post-template-default,single,single-post,postid-65296,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 Responds to Investors on SEC Action, Hearing Set for Oct. 24

14 Oct Telegram Responds to Investors on SEC Action, Hearing Set for Oct. 24

Posted at 06:18h in Cryptocurrency News by

[ad_1]

Telegram Open Network (TON) developers responded to its investors after American regulators abruptly announced that its $1.7 billion token sale was illegal.

No clear feedback from SEC for 18 months

According to a TON letter to investors obtained by Cointelegraph, the firm has been trying to solicit feedback from the United States Securities and Exchange Commission (SEC) for the past 18 months regarding the TON blockchain and does not agree with the recent action. It wrote:

“We were surprised and disappointed that the SEC chose to file the lawsuit under these circumstances, and we disagree with the SEC’s legal position.”

Court hearing is scheduled for Oct. 24

In the letter, Telegram stated that they are continuing to assess the best ways to resolve the situation in the interests of relevant parties, including but not limited to evaluating whether to delay the launch date.

After deeming Telegram’s initial coin offering (ICO) illegal, the SEC also filed a temporary restraining order,…

[ad_2]

Source link

Tags:
, , , , , , , ,