Gram is on the verge of closing. New York court banned the issuance of tokens
New York District Court takes SEC position
Telegram nearly there is no chance for a successful outcome of the case
Companies rather Total, will have to return 77% of the funds raised to investors
International consortium news organizations, developing transparency standards.
The Durov brothers have less and less chance of launching the long-awaited blockchain project, but the battle for Gram yet not finished.
The creators of the Telegram messenger, popular in Europe, are less and less likely to launch sensational cryptocurrency project called Gram.
According to the published ruling of Judge Kevin Kastel, the court sided with the SEC on a preliminary ban on the launch blockchain-the project Gram on all major points. The American court agreed with the position of the commission that Gram should be regarded as quality security, which means that the Telegram team needs It was submit an appropriate application to register the project in accordance with the relevant US law. Telegram of this, as you know, didn’t.
There is an exit
In early 2018, Telegram was able to raise $ 1.7 billion through closed investment rounds from 175 high-income companies and individuals in exchange for a promise to issue 2.9 Gram tokens. In turn, Telegram claims that the agreement for the issuance of 2.9 billion tokens is a legal private placement. valuable securities subject to exemption from registration requirements.
Despite the fact that the decision of the New York District Court does not mean that the court all process around Gram completed, but at the Durovs already there is almost no chance of a successful outcome of the trials. it means that they are should will be return 77% (over $ 1.3 billion) from attracted funds investors.
The court’s decision is an next indicator Togo, that the US authorities do not intend give way in the race to digitalize the economy even despite the fact that the United States itself has not yet may decide on themes, is it worth joining.
We previously reported that the U.S. Democratic Party has drafted the bill for sustaining the economy after the damage caused by the coronavirus, in which there was a clause on the creation of a digital American dollar.
So, eg, due to fears investors regarding what Facebook in June 2019 of the year Facebook has announced preparations for the release digital currency Libra. Social network project instantly attracted Attention… More will be able to run his digital currency Libra in June 2019 of the year, Facebook announced preparations for the release of the Libra digital currency. Social networks instantly attracted attention … More without friction with the SEC, the social networking giant has lost all its partners, who initially expressed interest in supporting the development of a national cryptocurrency the project.
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