Telegram (TON) project has been halted by SEC

[o48o]

I find it strange that projects on this level don't want to consult SEC before the sale, one would think that it would be better then getting halted/sued later.

[qiman]

The SEC likes to halt progress in anything too big on the Internet. They simply don't want U.S citizens or anyone else to participate in more unregulated types of online activities, but if they stop businesses in their tracks, they just confiscate the funds and the investors never see a penny back of their investment. All the SEC LAWYERS keep every penny for them selves. I think the SEC are the biggest crooks walking on the planet. I am sorry to say this, but I do not respect what they do at all as they act purely in self interest.

[desticy]

I find it strange that projects on this level don't want to consult SEC before the sale, one would think that it would be better then getting halted/sued later.

Perhaps at the time of fundraising this was not necessary. Even in the USA there is no full-fledged legal framework regarding relations with cryptocurrency.
GRAM tokens could well not fall under the concept of securities at the time of the sale.It is a pity that the launch of the project will have to be postponed, but I think it will take place nevertheless.

[BitHodler]

I find it strange that projects on this level don't want to consult SEC before the sale, one would think that it would be better then getting halted/sued later.

Because they know that they don't stand a single chance for the simple reason that they are launching a security. Or they thought to have found a grey area to exploit and for that reason not need the approval of the SEC.

The SEC for a long time wasn't really that active, but that has definitely changed---the freedom security issuers had is no longer there and a lot projects will be held responsible for that. No way the SEC will let you get away with it.

I'm sure there is bias towards the bigger projects, because on paper it doesn't make economical sense to chase after few million dollar projects when there are a lot projects in the +$50 million category.

[ven7net]

https://www.sec.gov/news/press-release/2019-212

Should we assume the project is dead?

I was about to reserve $500 worth of GRAM tokens on Crypterium or some exchange, but at this point i think it's not advisable.
What do you suggest ?

The main thing in this situation is to be honest with yourself. If there is already such a problem, it means that something is wrong with this project. This is a signal that it is dangerous to invest in TON right now. Of course it is very strange that news of this kind appeared right now, and not earlier. Same thing now with Facebook and its Libra. Of course I have a number of assumptions about what exactly is happening. I believe that this is not an attack on a blockchain or cryptocurrency, but most likely they just want to have a share of this pie, that’s muddying the water. In any case, soon we will see how everything will be.

[dfktynby1004]

In my opinion, this is another possibility of PR of this project. Pavel Durov is not a fool and he perfectly understood all the risks he would not be able to delay his project for such a long amount of time knowing that he could stumble over the SEC stone. Most likely, this issue will be resolved in the near future. But I advise you not to forget this project and constantly watch the news. Since everything can change very soon.

[chaoscoinz]

https://www.sec.gov/news/press-release/2019-212

Should we assume the project is dead?

I was about to reserve $500 worth of GRAM tokens on Crypterium or some exchange, but at this point i think it's not advisable.
What do you suggest ?

  Looks like trouble is afoot, I knew it was only a matter of time before we would see bigger ICO projects being ousted by the regulators. Great article, I wonder if they really are securities or utility tokens? They say simply listing your token as a utility isn't enough to proceed and start to raise capital thru crowdfunding. I guess it would be safer for startups to actually reach out to the S.E.C first, just to be sure the company's token is compliant and doesn't get them into any legal trouble. Seems a bit of a stretch, but worth it in the long run!

[boltz]

This is a bad news for the Blockchain community! Telegram (TON) is a big project that has raised capital quite successfully! The ban does not directly affect but will give rise to additional time.

Bad news for the Blockchain community ? Why ? Even if the project raise some big amount if money , its Telegram in the end , we're not investing into a big company man , just another chat app in the end. I have already imagined how this could have gone with GRAMS in 3-4 years if the project remained on the market because the numbers are not in their side anymore and also its full of scammers so people starting to avoid telegram already so I would call it dead in those years regarding numbers of users. Just my opinion...

[Twinkledoe]

SEC is really agressive in this year. Telegram have less than 20 days to fix it

I believe TON team will try their very best to fix things. They will not let their big investors think that this game is already over for them. Huge money is at stake so more than likely, they have high caliber individuals who are already working on this. Let us see how far they can go with this project.

[Genemind]

Such bad news but the article is already an answer to your question. It's really disappointing that the projects which we thought are potential would only end up like this. I guess team behind this must be responsible but I have heard that they're not working hard to pursue ton. That's the reason why we must not invest or involve ourselves in new existing projects much unless you're a big risk-taker. You better invest with reputable and trusted coins.

[Arsenyo]

I hope ton team will be able to fix this problem and fix it quickly, otherwise the project will be dead. If Telegram fails to release the first batch of its Gram token by the end of this month, it will have to refund the money raised. I can't say that I am a fan of this project, I wouldn't invest in it, but I don't want it to be shut down too.

[minairia3]

This is quite an entertaining event. How come the SEC will now interfere with TON now that they secured a huge investment fund. Yes it's too big not to be noticed but I think that is harsh on the part of TON. I hate those people from SEC that interfering with legit project like telegram. If decentralization will get destroy will blame SEC for this matter.

[EdenHazard]

This is quite an entertaining event. How come the SEC will now interfere with TON now that they secured a huge investment fund. Yes it's too big not to be noticed but I think that is harsh on the part of TON. I hate those people from SEC that interfering with legit project like telegram. If decentralization will get destroy will blame SEC for this matter.

They smells it .. sec loving money , I won't surprised if then after this nothing happened, TON just need to pay some fees there .

However I even confused about these gram token sales ... they offered 4 usd at liquid few months ago and now digifinex listing it for only around @1.8 usdt , is this even legit sales? Idk ... digifinex always works in shady ways for me . Can anybody confirm about this sales made by digifinex? I've asked directly to digifinex support regarding this since yesterday... there's no response till now.

One thing that I know ... those people who bought the tokens from/through the early investors they won't get any tokens distributed later in the day due the private agreement between the investor and the company.

Is it possible digifinex doing this right now?

[mintme.com]

What else? Of course, stop investing in that project anymore. Remembered what happens with Kik a few months ago?
https://www.theverge.com/2019/9/24/20881515/kik-messaging-app-shut-down-kin-cryptocurrency-fight-sec-ico

there is no reason for us to continue our investment after we got this notification from SEC, it is completely dead for me.
they do not have another different choice other than closing their project.

Terrible thing to happen and so I guess GRAM will be off because they already did in once for being very assertive.

on one point: I hate it when big corporations infiltrate our crypto market, they never have good intentions even if some could make profit off their backs
on another point: This is outrageous from the Trump controlled SEC, if it was an American company collecting this money their reaction would be totally different, they'd try to control it but not shut it down like that.

Isn't the GRAM developer from US? Was assuming they are. I have no idea so what jurisdiction do the US SEC have to projects outside US, I don't understand that part. Do they have the right to shut down projects from Estonia or so?

AFAIK, they don't have that power, but banning a project in the US is a  worldwide death sentence for a project.

[Ferris419]

Every time when some giant company wants to join in crypto, SEC protests them. Now, I definitely say, Facebook's Libra will face the same problem! Though I did not buy the GRAM coin but this news hurt me a lot! Because the crypto industry really needs some giant names to get real mass adoption! That's why I will still continue supporting the Telegram TON network!

[Saint-loup]

https://www.sec.gov/news/press-release/2019-212

Should we assume the project is dead?

I was about to reserve $500 worth of GRAM tokens on Crypterium or some exchange, but at this point i think it's not advisable.
What do you suggest ?

Thank you for the information I wasn't aware of that but the american SEC can't rule the world. So platforms outside USA can still provide GRAM tokens on their exchanges.

[bvg96634]

Pavel Durov never gives up without a fight. I think he was ready for that. In my opinion, although TON has problems now, they will be resolved within a few months. Let's wait a bit before talking about the death of the project.

[jorenpo]

sad to see that the token is dead even before its main launch. I'm very excited about this token as i have a token holding that will support TON. now I now why minter got dump this past few days.

[boltz]

Telegram should have been aware as if they involve US citizen they will be halted by the SEC so no wonder why the ICO is heading towards a dead zone. There were signals of this happening for weeks , it was just a matter of time until SEC stepped up in the game. Is not questionable that social medias or chat platform are doing their own projects into the crypto world ? For me it is and I think Libra will face the same result in the end because they are already loosing a lot of their original investors.

[manok jepang]

in my opinion they are very serious that the SEC chose a legal route to solve this problem. This emergency measure is intended to prevent Telegram from flooding the US market with digital tokens that we suspect are illegally sold.