Federal US Court may block issuance of GRAM tokens.


It's one more retrieve to the Telegram case with SEC as it continues to role more developments about their GRAM tokens and now with a possible block to be issued as the Federal Court in U.S, from the state of New York may block it to happen!

This preliminary injunction from the Federal court allegedly found that the $1.7 billion ICO selling of GRAM carried by Telegram would violate the U.S. securities Laws, as they understand that the messenger Firm conducted a scheme and  the resale of Grams into the secondary public market would be an integral part of the sale of securities without a required registration statement in this context violating the Yankees securities Laws! Check the link order here:

 https://www.scribd.com/document/453109383/TG-Order

The Court also finds that Telegram "Simple Agreement for Future Tokens (SAFT)" with the investors would be considered an agreement or contract for security tokens as they wouldn't pay $1.7 billion merely to store or transfer value and the Telegram used the initial fundraising to build an structure to maximize the tokens price when they sell it to a secondary public.

So the Injunction in this initial and preliminary phase is giving reason to the SEC and one more time delaying the issuance of GRAM tokens and the TON Blockchain, the well awaited structure may be compromised from it! The well awaited tokens may face one more retrieve, letting the Investors and all Telegram lovers worried!

Let's see what the next stages of this challenge will show us in the next days!

 

Republished article original found at Uptrennd from my authorship here.

**Free image from Pixabay.com with rights for commercial use here.

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alberdioni8406
alberdioni8406

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