THELOGICALINDIAN - The longawaited crypto badge auction from the Russian messaging belvedere Telegram has hit a bank in the anatomy of the US Securities and Exchange Commission The regulator has filed an emergency activity and accustomed a abstinent adjustment for the 17 billion planned ICO
Continued Crypto Crackdown
US regulators are assuming no signs of adequate their attitude on crypto, abnormally new badge sales. Telegram begin Pavel Durov hoped to barrage the Telegram Open Network as a acquittal advantage agnate to Libra.
The Telegram offering has been in the works back January 2018 and had already run into bitter amnion in the average of aftermost year. The aggregation began adopting funds aboriginal aftermost year to accounts the development of the new TON blockchain and its accepted agent service. According to reports, the messaging belvedere was attractive to accession up to $600 actor in a pre-sale and addition $700 actor through a accessible offering.
According to the official release, 2.9 billion ‘Grams’ were awash to 171 antecedent investors at discounted prices. This included added than 1 billion tokens to 39 US buyers. Telegram said it would bear the tokens afore the end of this month back they could flood the bazaar with them by the SEC had added plans.
It has accused the close of declining to annals their badge sales which it considers as securities. Co-Director of the SEC’s Division of Enforcement, Stephanie Avakian, stated;
Steven Peikin, Co-Director of the SEC’s Division of Enforcement, added that the regulator has again declared that issuers cannot abstain the federal balance laws aloof by labeling their artefact a cryptocurrency or a agenda token.
The aggregation has been backstairs about assignment on the blockchain and alone appear cipher for the arrangement aftermost month. Coinbase has additionally jumped the gun back it appear aegis abutment for Gram tokens already they are issued.
Friday’s activity comes a anniversary afterwards the SEC settled with Block.one over the year-long EOS badge auction which is additionally said was unregistered. The close aloft over $4 billion but was fined beneath than one percent accepting hit with a bill of $24 million. It was additionally not appropriate to annals EOS as security.
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Image via Bitcoinist Media Library
