[NEWS] U.S. Regulators Sue Crypto Startup Telegram Over Initial Coin Offering - page 2.

NathanJB

sr. member

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Quote from: ivan1975 on October 11, 2019, 11:56:54 PM

SEC is a famous ransomware and just want a ransom.
I think Telegram will be able to pay off them, taking into account the amount collected on ICO.

A ransomware indeed. LOL. But you need to consider that the ransom price will also be commensurate to how much they are currently worth. And that worth will of course include the total amount they collected in the ICO, that was 1.7 Billion USD. There is going to be another easy money for SEC if Telegram will fall for it and pay.

ivan1975

legendary

Activity: 2940

Merit: 1169

SEC is a famous ransomware and just want a ransom.
I think Telegram will be able to pay off them, taking into account the amount collected on ICO.

NathanJB

sr. member

Activity: 756

Merit: 251

LOL. The US is worse than china now. It seems the largest hindrance for the development and spread of cryptocurrency is the US government itself. It is totally understandable if a certain ICO or its distribution is stopped because an outstanding case or legal complaint is filed against it by an investor or by a partner or any aggrieved party for that matter. If there is none and the SEC will still proceed to stop it bringing such shallow excuses as unlawfully sold or didn’t provide investors with required disclosures, everybody knows it is pure desperate BS.

bbc.reporter

legendary

Activity: 3010

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It appears that some ICO investors might have the right connections in the American government and would allow the ICO they hold pay a fine to continue operating in American soil undisturbed. Some do not and are sued.

Next ICO buying strategy, research and be certain which venture capitalists and hedgefunds that invested in the ICO are politicaly connected hehehe.

U.S. regulators sued a company that raised $1.7 billion through a cryptocurrency offering that became one of the largest such deals ever.

The Securities and Exchange Commission on Friday said it obtained a legal order to halt Telegram Group Inc. from distributing its crypto asset, known as gram. Telegram, founded by two Russian brothers, developed a messaging app that is popular with cryptocurrency traders and developers.

The SEC’s order seeks to block the company from distributing as soon as next week in the U.S. an asset that regulators say can’t legally be traded in the country.

“Our emergency action today is intended to prevent Telegram from flooding the U.S. markets with digital tokens that we allege were unlawfully sold,” said Stephanie Avakian, co-director of the SEC’s enforcement division.

Earlier this month, an overseas-based startup behind another large coin offering agreed to pay $24 million to settle the SEC’s allegations that its deal violated U.S. law.

The SEC has said many of the fundraising deals violate U.S. securities laws because the startups behind them didn’t provide investors with required disclosures that explain the company’s finances and business model.

Read in full https://www.wsj.com/articles/u-s-regulators-sue-cryptocurrency-startup-telegram-over-initial-coin-offering-11570834242

Topic: [NEWS] U.S. Regulators Sue Crypto Startup Telegram Over Initial Coin Offering - page 2. (Read 245 times)