SEC blocks GRAM

By NinoPi | BestTipWay | 15 Oct 2019


The "Grams" equal to 2.9 billion digital certificates, for an estimated value of 1.7 billion of dollars, susceptible to rapid growth in a buying and selling market, which however is totally unregulated and outside the guarantees offered by the SEC.
The restraining order is only the latest move by an international regulator to block the cryptocurrency sector, which is becoming more lively every day.

Two offshore companies that launch a cryptocurrency, for an estimated value of 1.7 billion dollars. The tokens for the issue are 2.9 billion and a billion are booked by US investors. Sufficient for the SEC, the market regulation authority, to block the transaction with a temporary restraining order.
The companies involved are Telegram, the messaging company founded by Russian billionaires Nikolai and Pavel Durov, and the subsidiary instrumental company Ton Issuer.

The position of the SEC is such that the initial offers of money are offers of securities and as such must be regulated by law by the SEC itself, in the United States. This involves the registration of companies and complete transparency on documents.  Telegram had promised to give virtual currencies to customers by October 31, when it had planned to launch its blockchain.

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