Telegram Rebuffs in Court SEC’s Claim that Gram Token Is a Security

Telegram Rebuffs in Court SEC’s Claim that Gram Token Is a Security

The secure messaging app giant Telegram has asked the US court to dismiss allegations placed on the company regarding its Gram token being security by the Securities and Exchange Commission (SEC). The company drafted a court filing, detailing its case and rebutting the list of imputations hurled on the firm by the SEC, which was then submitted on Tuesday. The filing states that the plaintiff’s claims were not based on any merit as Telegram’s private…

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Telegram Open Network Investors Decide Not to Demand Refunds

Telegram Open Network Investors Decide Not to Demand Refunds

A majority of investors from both rounds of financing of the blockchain-powered Telegram Open Network (TON) project have opted not to take refunds from the company. During the two rounds of financing, Telegram gathered $1.7 billion ($850 million from each round). TON was due for opening on 31st October but after a court ruling, the US Securities and Exchange Commission (SEC) obtained a temporary injunction against Telegram Group Inc. and its subsidiary TON Issuer Inc.,…

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US Regulators Clarify Crypto Regulation Roles in Joint Statement

US Regulators Clarify Crypto Regulation Roles in Joint Statement

At the core of any democratic country there are rules and regulations. If the past few years have taught us anything, it is that these rules are bound to change in order to accommodate emerging technologies. This is clearly proven in the ongoing struggle to regulate cryptocurrencies. However, financial regulators constantly show they are working tooth and nail to be on top of the matter. In what can be seen as the best move on…

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The SEC Pulls the Plug on the Sale of Telegram Open Network’s Gram Token

The SEC Pulls the Plug on the Sale of Telegram Open Network’s Gram Token

We may have to wait longer for the ‘world’s most anticipated token,’ as its website claims. The SEC has officially ordered Telegram to ground the initial coin offering (ICO) of its highly anticipated blockchain project, Telegram Open Network (TON) . The revelation of Facebook’s digital currency Libra brought about a deep awakening among big tech companies – including social media platforms. One of such big names to catch the bug and perhaps accelerate its crypto…

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SEC Turns Down Bitwise Bitcoin ETF Trust Despite Compelling Case

SEC Turns Down Bitwise Bitcoin ETF Trust Despite Compelling Case

Bitwise Asset Management, a key player in the global crypto space that is revered as the leading provider of beta funds and index for the crypto ecosystem, has been in the race for a Bitcoin ETF since January 2019. Like most top shots looking for own their Bitcoin ETF, the firm filed with the United States Securities and Exchange Commission (SEC) for the right to a Bitcoin ETF. Filed on January 9, 2019, the SEC…

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Block.one, EOS Creator, Slapped with $24 Million Fine for Unlicensed ICO

Block.one, EOS Creator, Slapped with $24 Million Fine for Unlicensed ICO

Wrapping off the month of September, the United States Securities and Exchange Commission (SEC) revealed to the general public that the prominent blockchain-based firm Block.one, the creator of the cryptocurrency EOS (EOS)trade, has been in the business of selling unregistered tokens for a year in 2017-2018. According to the SEC’s order, the cryptocurrency company Block.one was nabbed by the regulator’s Cyber Unit. The order states that Block.one willfully ignored the SEC’s rule of registering every…

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Kik Closes Messaging App after Costly Clash with the SEC; Focuses on Cryptocurrency Kin

Kik Closes Messaging App after Costly Clash with the SEC; Focuses on Cryptocurrency Kin

Kik, one of the largest messaging applications to operate on a global scale, has decided to shut down in the face of a ferocious legal battle with the U.S. Securities and Exchange Commission (SEC) that has exhausted the company’s chances for survival. Recently, the company issued a layoff notification to 70 employees of its cryptocurrency subsidiary Kin in Israel. Eight years ago, a group of students from Canada created an instant messaging application called Kik….

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SEC Chairman: Investors Should Be Wary of Bitcoin Until It’s Better Regulated

SEC Chairman: Investors Should Be Wary of Bitcoin Until It’s Better Regulated

Jay Clayton, Chairman of Securities and Exchange Commission (SEC), says that investors should be cautious about trading Bitcoin(BTC)trade on a large scale. On Thursday, he asserted that until Bitcoin is regulated and monitored, it should not be traded on a major exchange. The current market capitalization of the largest digital currency has reached total value of over $177 billion and continues to grow as a more mainstream business. The cryptocurrency industry is planning to introduce…

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The SEC Sues ICO Platform ICOBox for Violating Federal Securities Laws

The SEC Sues ICO Platform ICOBox for Violating Federal Securities Laws

According to a press release on September 18, the U.S. SEC has taken legal actions against a blockchain and crypto company called ICOBox and its founder Nikolay Evdokimov for illegally distributing $14 million worth of the company’s digital token and operating as an unregistered broker for other digital asset offerings. The United States District Court for the Central District of California has ordered to conduct the investigation which was led by Brent W. Wilner and…

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Blockstack Stockpiles $23 Million in First SEC-Certified Token Offering

Blockstack Stockpiles $23 Million in First SEC-Certified Token Offering

Muneeb Ali, the co-founder and the CEO of Blockstack PBC, has announced on a blog post that the sale period for Blockstack’s SEC-qualified token offering has ended on September 9, with $23 million raised across the two sales. For the very first time ever in the US, retail investors were able to participate in a SEC-qualified token offering. Blockstack is the first crypto startup to get the greenlight from the U.S. Securities and Exchange Commission…

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