The U.S. securities and exchange Commission stops in advance of the planned Token Sale of the Messaging service Telegram. The Securities and Exchange Commission (SEC) stops the Telegram-Open-Network-sales (AUDIO sales), with which the company already has more than $ 1.7 billion collected.
By Phillip Horch
14. October 2019BTC$9.288,95 -0.62%part Facebook Twitter LinkedIn xing mail
The SEC is in the Kryptoversum for your watchful eye is known. Recently, the U.S. securities and exchange Commission expanded to over 100 pages, why you can in no way allow a Bitcoin Exchange Traded Fund (ETF). The reason: lack of security and lack of protection for investors. Now the Messaging service Telegram must adjust its activities.
Restraining order against Telegram
As the authority on the 11. October tells, speaks a restraining order against the Token Sale of the Telegram. In the framework of the private Token-sale for SOUND, the company have sold since January of 2018 is already a Token in the value of 2.9 billion US-dollars. Including – the is likely to interfere with the SEC, ultimately the most – was the sale of over one billion Gram Token in 39 U.S. investors. The company had promised, moreover, that the Token until 31. October 2019 to deliver – also in the USA. This Telegram would have failed, however, the authority to register the Token as the value of paper (Security). Stephanie Avakian, Co-Director of the Division of Enforcement at the SEC:
Our present-day emergency measure to prevent Telegram flooded the US markets with digital tokens, from which we assume that they were illegally sold. We think that the defendants have failed to give investors information about the business activities of Gram and Telegram. The financial position, the risk factors and the Management, as required by the securities act to include.
Steven Peikin, Co-Director of the same Department, the situation is similar:
We have repeatedly stated that issuers cannot circumvent the Federal securities laws by drawing your product simply as a cryptocurrency or Token. Telegram is aiming to take advantage of the benefits of a public offering without complying with the longstanding disclosure requirements to protect investors.
SEC and the Bitcoin company
While the Telegram is now in the debt, this is not the only company in the Bitcoin Ecosystem, in the face of authority. The guidelines of the SEC prompted other Token vendors in the past, even U.S. investors from their own business model to exclude.
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In this context is the dispute between the US authorities and the Bitcoin exchange Bitfinex. This, with its subsidiaries Tether is suspected to have customer funds are misappropriated. Previously, they could squirm out of the clutches of justice. They pointed out that the SEC is responsible for you; American citizens are excluded from transactions with Bitfinex.
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