February 22, 2024

Telegram asked the court to lift the ban on the sale of GRAM tokens

Telegram asked the court to lift the ban on the sale of GRAM tokens

Telegram, behind the messenger of the same name, went to court to refute all allegations from the US Securities and Exchange Commission (SEC).

Telegram filed an application with the district courtNew York, which says that all claims are unfounded, since the private placement was in accordance with applicable federal laws of the United States, and tokens have not yet been issued. Adding that after the launch of the TON blockchain, GRAM will be assigned to goods or currencies, but not to securities.

After the SEC obtained an emergency order in October a ban on the sale of tokens due to their illegal distribution, the company’s management asked investors to wait until spring until all issues with the regulator were resolved.

Telegram also indicates that the Commission onThe Securities and Exchange Commission has not yet provided clear guidance and notifications about its views on what specific actions constitute a violation of securities laws; therefore, this precedent reflects the subjective view of officials.

In addition, the company claims that it voluntarily cooperated with the regulator in order to avoid violation of legal norms and did not notify of distribution, since this is not required by the legislation on the Central Bank.

The hearing on this case is scheduled to take place on February 18-19.