A company attempt failed Telegram The first to launch its cryptocurrency “Gram” As announced by the US Securities and Exchange Commission (SEC) Today it is to solve the accusations of violating federal securities lawsTelegram Return more than $ 1.2 billion to its investors, and pay a civil fine of $ 18.5 million.
In August last year, I came back Telegram That a coin Gram Newly announced – and it will work with a decentralized structure that looks like Bitcoin – It will be ready by October 31, 2019, and because the initiative largely came from a $ 1.7 billion investment round in 2018, she said Telegram It is if not raised Gram By the end of October, she would return investor money, so she had a tight deadline.
In mid-October, the Securities and Exchange Commission intervened, obtaining a temporary restraining order against the company, and the agency said that Telegram She did not record the show at her office, since she considered Gram Securities, the company was accused of violating the Securities Act of 1933, and then in March the US District Court for the Southern District of New York issued a preliminary injunction GramAnd now the Securities and Exchange Commission has issued its final ruling.
“New and innovative companies are welcome to participate in our capital markets, but they cannot do so in violation of the requirements for registration in the Federal Securities Laws,” said Christina Littman, Head of the Internet Unit of the Law Enforcement Division of the Securities and Exchange Commission.
This settlement requires from Telegram Return money to investors, impose a large penalty, and requires Telegram Notice of future digital offerings, meanwhile, accepted Telegram Punishment without admitting or denying any wrongdoing.