Telegram messenger crypto currency blocked in the USA. In the United States, the initial placement of tokens (ISO) of Telegram messenger Pavel Durov has been suspended.
This was taken care of by the US Securities and Exchange Commission (SEC). According to the commission, tokens were sold in violation of US laws, which resulted in a lawsuit in a Manhattan court, which was subsequently satisfied.
The result was a ban on two Telegram Group Inc. companies. and TON Issuer Inc., which are directly involved in the sale of Telegram messenger tokens (tokens are called Gram) telegram.
The implementation of tokens, in order to attract investment among a closed group of investors, started back in early 2018. Funds were allocated for the development of these two companies, as well as for the launch of the blockchain platform Telegram Open Network (TON) and the Telegram messenger.
According to the commission, about 2.9 billion tokens were sold around the world, of which about 1 billion was bought by investors in the United States (today, about $ 1.7 billion has been raised).
The essence of the lawsuit was that the Durov company promised to provide access to tokens after it launched the blockchain platform Telegram , blockchain, but no later than October 31, 2019. After that, investors could start selling digital currency in the US market Telegram messenger crypto currency. But since the defendants did not register the offer, plus they did not provide investors with information about token transactions, the financial situation of companies and risk factors and management, as required by the securities law and thereby violated this law.
The lawsuit filed, in addition to the ban, also involves heavy fines. No comments have yet been received from Telegram officials blocked in the USA.