Court in Telegram case blocks gram token issuance, says token distribution likely violates securities law

The $1.7 billion 2018 fundraising effort by Telegram hit a major snag today when a Federal Judge in New York issued a preliminary injunction ruling finding that distribution of the “GRAM” token would violate U.S. securities laws. In particular, the Court ruled that “considering the economic realities under the Howey test, the Court finds that, […]
Full Story
Mar 24, 2020, 11:08PM UTC