Telegram may delay the unique plan of issuing its personal cryptocurrency on the Telegram Open Network by Oct. 31 after the U.S. Securities and Exchange Commission (SEC) ordered it to halt the allegedly “unlawful” token sale within the nation.
According to a report from Bloomberg on Monday, Telegram despatched a observe to buyers saying it’s contemplating methods to resolve the momentary restraining order from the SEC , together with the potential for suspending the issuance after the Oct. 31 deadline.
The SEC stated on Friday final week that it filed for and obtained an emergency motion and restraining order halting Telegram from promoting or distributing its gram tokens within the U.S.
The company stated Telegram offered 2.9 billion gram tokens worldwide, with greater than 1 billion to U.S. buyers allegedly with out registering the providing with the securities regulator.
CoinDesk reported beforehand that Telegram focused to launch the community’s mainnet earlier than Oct. 31 and the know-how growth was nonetheless on observe to satisfy the deadline earlier this month.
Telegram stated within the newest observe to its buyers that it has been having discussions with the SEC for greater than a yr concerning the TON undertaking. “We were surprised and disappointed that the SEC chose to file the lawsuit under these circumstances,” the letter added.
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