Securities and Exchange Commission got a controlling plan to prevent the trade of Gram in the US. After this, Telegram is thinking about changing the day of the crypto launch.
As to SEC accusation, investors purchased rights for Telegram’s token at a significant premium, with the prospective to resell them at a reference rate of $3.62, which is about three times of the highest value of the rights.
The organisation, which gathered upper $1.7 billion for its crypto project last year, informed investors it’s searching for the methods to fix the issues with the bureau. One of the things Telegram will likely do is suspend the issuance of the token beyond its October 31 target.
SEC mentioned that Telegram’s fundraising was outlawed in the US as the company never listed its offering with the controlling institutions. From only US investors, the organisation raised above $425 million.
The company assured investors that discussions with regulators were held for the past 18 months concerning this project. Telegram representatives mentioned in a letter that they were astonished that the SEC decided to sharpen the trial under these incidents.