TON Launches under Different Name with TON Crystal Token Trying to Beat SEC
Free TON and TON Crystal tokens are to be launched today by the decentralized community, but it is said that Telegram needs to leave the project.
Free TON and TON Crystal tokens are to be launched today by the decentralized community, but it is said that Telegram needs to leave the project.
The New York Judge Kevin Castel claims that Telegram’s TON Grams are securities. But Blockchain Association’s (BA) Kristin Smith put out the fact that Grams only arrive under the security name while being not a security. BA filed the letter of support to the court earlier this week.
Judge Kevin Castel is clearly against Telegram in the case of the GRAM token launch. Federal Judge claims that Telegram founders can not distribute their tokens to anyone, not only to U.S. citizens.
Even if the regulators restrict the official Telegram TON team to coordinate their project, it can be launched as a ‘fork’ by anyone else. The community has already launched an experimental testnet that works well with the Telegram’s code. What will they do next?
Telegram investors and developers created a foundation within the TON ecosystem to defend the project from the SEC. The TON Foundation participants, not Durov brothers, will manage funds and code.
The SEC findings show that the Durov brothers were selling the Telegram’s GRAM tokens five months after the initial offer took place. And that’s bad.
There are a lot of rumors around Telegram’s Gram tokens and TON blockchain. The company has decided to provide some clarifications.
During the SEC investigation into the Telegram’s TON blockchain, Durov brothers rejected an order to disclose ICO-related banking transactions.
According to many Bitcoin proponents, crypto is bulletproof thanks to the blockchain. However, the industry’s famous players quite often have the power to influence prices and opinions.
Instant messaging service Telegram has built a new programming language that will be used for the needs of Telegram Open Network (TON).