Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
A recent district court judgement which ruled in favour of the SEC, has seen an injunction being placed against Telegram which prevents the social media company from issuing its ‘grams’ digital asset and launching its associated TON blockchain platform.
Following this, Telegram has distributed a letter to its investors (according to leaks from organisations such as CoinDesk) which confirms that it will not be issuing its anticipated ‘grams’ cryptocurrency on the previously scheduled date of April 30th 2020.
Telegram’s letter officially refers to “a recent US district court decision” as the reason for this action, before reassuring investors that they have a couple of options for redeeming refunds on their investments (as stipulated in the original ‘purchase agreement’ released back in October 2019).
The first option sees Telegram offering investors the ability to recoup 72% of their original investment on an ‘as soon as possible’ basis. Conversely: the second option asks investors to wait 365 days for the new expected release date, 30th April 2021, in return for the opportunity to receive a 110% return on their original investments.
Notably, there is no overt option for those who may wish to hold on and recoup a more significant return on investment - almost entirely defeating the purpose of investing in such a high-risk project.
Telegram has faced many regulatory roadblocks from US authorities and regulators, particularly the United States’ Securities and Exchange Commission (SEC), pertaining to the TON blockchain project as well as its associated digital asset, ‘grams’.
Most recently, on March 24th 2020, a US district court finally delivered judgement on the ongoing SEC vs Telegram case which ruled in favour of the former. This is the aforementioned “recent US district court decision” and caused Telegram to delay release and offer refund options to its investors.
“Considering the economic realities under the Howey test, the Court finds that, in the context of that scheme, the resale of Grams into the secondary public market would be an integral part of the sale of securities without a required registration statement.”
The first time Telegram faced regulatory scrutiny over its TON blockchain and ‘grams’ project was back in October 2019. Shortly following the public reveal officially confirming that Telegram was behind the project, the organisation was hit with its first injunction and this is the moment its release was delayed to this year - and now it has been postponed again.
In January of this year, the SEC tried (unsuccessfully) to compel Telegram to share its raw and unadulterated bank records as a means of determining the distribution of investor funds following its initial fundraising round. According to the SEC, Telegram was guilty of having raised capital by way of an unregistered securities sale for a proprietary digital asset.
Telegram isn’t the only social platform which has faced significant and repeated regulatory roadblocks on its journey towards launching a blockchain and/or digital assets project.
Libra, for example, is a Facebook-led project backed by a consortium of institutional entities which has received similar ire from US regulators. One of the most significant instances of this came last year when Facebook was called to an audience with the U.S. senate as well as general criticism regarding not only data security issues surrounding its social media platform - but also the potential implications of the Libra project (basket of fiat-pegged stablecoins).
Another social media icon which has faced challenges when attempting to foray into blockchain and digital assets is Kik - which sacrificed its namesake messenger platform in order to redirect resources towards its ‘Kin’ blockchain project in light of a $100 million ongoing case against the SEC.
As the cryptocurrency market has evolved, one asset class stands out for its ability to bridge the gap between the stability...
14 hours ago | Kim Sorgson
How Stablecoins Work
14 hours ago | Kim Sorgson
Cryptocurrency investments have become a common strategy for diversifying assets, but managing these assets comes with its own...
17 hours ago | Kim Sorgson
Crypto Cards and Payment Gateways: Spending Directly from Your Crypto Wallet
17 hours ago | Kim Sorgson
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
Trending
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Did You Know? Bitcoin ATMs Are Popping Up All Over the World!
16 hours ago | Kim Sorgson
Did You Know That You Can Buy Real Estate Entirely with Crypto?
17 hours ago | Kim Sorgson
10 Surprising Facts About the Finance and Crypto World That Will Change How You Think About Money
17 hours ago | Kim Sorgson
Keeping Your Crypto Out of the Bank: Smart Alternatives to Avoid High Taxes
17 hours ago | Kim Sorgson
Tezos (XTZ) Review 2024: Everything You Need to Know Before Buying Tezos
.article-container { font-family: Arial, sans-serif; line-height: 1.6; color: #333; backgrou...
Chromia (CHR) Review 2024: Everything You Need to Know Before Buying Chromia
Illuvium (ILV) Review 2024: Everything You Need to Know Before Buying Illuvium
My Neighbor Alice (ALICE) Review 2024: Everything You Need to Know Before Buying My Neighbor Alice
Star Atlas (ATLAS) Review 2024: Everything You Need to Know Before Buying Star Atlas
OQtima
Oqtima is an emerging online trading platform that offers a wide range of financial instruments, inc...
Saxo
Saxo Bank is a leading global online broker offering a wide range of financial instruments, includin...
FXCC
FXCC (FX Central Clearing Ltd) is a well-established forex and CFD broker known for offering a trans...
Quadcode Markets
Quadcode Markets is an online brokerage offering a wide range of financial instruments, including fo...
Trading 212
Trading 212 is a popular online broker offering a range of financial products including stocks, ETFs...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
For The Second Time, Telegram Forced To Delay TON
A recent district court judgement which ruled in favour of the SEC, has seen an injunction being...
Cryptocurrencies in 2024-2025: What Can You Really Buy with Crypto Today and in the Future?
.article-container...
The Future of Digital Currencies: Will Crypto Replace National Currencies in the West?
.article-container...
Should You Invest In Smaller Cryptos?
Cryptocurrencies or simply cryptos are digital coins used for online trades, transfers, and...
JPMorgan chief executive says bitcoin is a scam - but his bank is trading in digital currency
...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
COMMENTS (0)