Blockchain and the Law

Tag Archives: Grams

Court Sides with SEC in Ruling to Prevent Telegram from Distributing Grams

By Allen S. Li and Ayisha McHugh on Posted in Cryptocurrencies, Initial Coin Offerings, Litigation: Civil, SEC, Securities
In the latest development in the ongoing dispute between the SEC and Telegram Group Inc. (Telegram), Judge P. Kevin Castel of the U.S. District Court for the Southern District of New York in a March 24, 2020 opinion granted the SEC’s motion for preliminary injunction to prevent Telegram from distributing Grams purchased in its initial … Continue Reading

SEC Attempts to Halt Telegram’s Planned Token Distribution

By Allen S. Li and Seok Whee (Jason) Nam on Posted in Cryptocurrencies, Enforcement Action, Government, SEC, Securities, Token Sales
On October 11, 2019, the SEC filed an emergency action to stop Telegram (Telegram Group Inc. and its wholly owned subsidiary TON Issuer Inc.) from continuing its offering of tokens. Telegram raised approximately $1.7 billion in early 2018 through the sale of its tokens, dubbed “Grams”, which it originally committed to deliver to purchasers from … Continue Reading
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