The Telegram cryptocurrency is blocked

The Telegram cryptocurrency is blocked

There SEC (Securities and Exchange Commission) issued a temporary restraining order with which the issue of Gram, virtual currency created by Telegram and by the subsidiary Ton Issuer. The US authority for the regulation of the markets would have intervened after a verification that would have revealed the failure to register the two companies as financial operators.

The Grams are basically tokens, the idea of ​​the Russian group created by the Durov brothers (the same ones who founded the VKontakte social network today VK) was to propose an initial offer with which to launch 2.9 billion digital certificates for a value of 1.7 billion dollars. The only reservations made by US investors would have been more than 1 billion.

According to some analysts the SEC would have acted above all to underline the perplexities of the regulatory bodies towards cryptocurrencies, the ICOs (Initial Coin Offering) are often characterized by significant increases in the value of launch prices, after this phase there are, however, important fluctuations capable of penalizing savers.

According to the SEC, ICOs should be managed exactly like IPOs (Initial Public Offering), would therefore be comparable to offers of shares and should be subject to the same legislation. It follows that if a group intends to sell its "shares" in the form of cryptocurrency, it must first be credited to the authority.

At this point it expects to understand what the effects of this decision will be, the managers of Telegram had assured the investors that the Grams would be launched by October 31, 2019, ie in conjunction with the activation of a specially dedicated Blockchain. For the time being the company would seem to face difficulties similar to those it has Facebook is facing for the launch of Libra.

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