Telegram Goes On Offense, Asks Court to Strikeout SEC Lawsuit

2019-11-14 18:53

Coinspeaker
Telegram Goes On Offense, Asks Court to Strikeout SEC Lawsuit

Telegram, the cloud-based encrypted messaging service which helps users to send and receive messages, exchange stickers, videos, photos, audio and all kind of files, has reacted to the lawsuit brought against it by United States regulators which claims that its cryptocurrency, GRAM, is a security. The company has therefore asked the New York Southern District Court to discard the accusations because they hold no water.

Going on the offense with a fresh filing on Nov. 12, the lawyers representing Telegram have accused the U.S Securities and Exchange Commission (SEC) of not observing just practice in criticizing the messaging service company.

SEC Lawsuit Bogus at Best

A while ago, Telegram conducted the sale of GRAM token to a group of vetted investors. This did not go down well with the SEC when they got wind of it, leading to a lawsuit against Telegram, championed by the SEC. The SEC claimed that the token sale was unsanctioned because they are unregistered securities. However, the investors who purchased the GRAM tokens have refused to take back their money despite the pressure.

The fresh filing by Telegram’s lawyers state that the:

“Plaintiff has engaged in improper ‘regulation by enforcement’ in this nascent area of the law, failed to provide clear guidance and fair notice of its views as to what conduct constitutes a violation of the federal securities laws, and has now adopted an ad hoc legal position that is contrary to judicial precedent and the publicly expressed views of its own high-ranking officials.”

The lawyers then requested for a total dissolution of the case against Telegram.

The SEC Is Not Giving Up

The token launch carried out by Telegram has been problematic for the company even though its initial coin offering (ICO) was a success that raised $1.7 billion. However, the last eighteen months have not been a bed of roses for the company as it has been full of hurdles.

As for the SEC, they are never too tired to pursue their claims. Known to fight several battles at the same time, the fight against Telegram is just an example of how relentless the SEC can be in carrying out their duty. The SEC is also at the throat of Kik, a messaging service based in Canada, over the initial coin offering it conducted back in 2017 through which the company realized the sum of $100 million.

Telegram Goes On Offense, Asks Court to Strikeout SEC Lawsuit

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Telegram Open Network (GRAM) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 GRAM

sec court strikeout asks goes offense telegram

Источник: coinspeaker.com

sec court → Результатов: 118


Court says it doesn’t need to “wordsmith” Binance and SEC’s announcements

The court handling the SEC’s ongoing case against Binance said that it is not necessary to revise either party’s public statements on June 26. The relevant order, signed by Judge Amy Berman Jackson, declared: “While all of the lawyers in this case should adhere to their ethical obligations … it is not … necessary or […] The post Court says it doesn’t need to “wordsmith” Binance and SEC’s announcements appeared first on CryptoSlate.

2023-6-27 02:16


Breaking Down the SEC’s Emergency Order Against Telegram (TON) [Full Analysis of the Entire Court Filing]

For more information like this, make sure to subscribe to ZeroNoncense's Telegram and follow them on Twitter. As noted in their previous post outlining the fundamentals of the press release by the SEC, the actual pdf for the order, which was submitted by the SEC to the Manhattan Supreme Court today can be found here: […]

2019-10-12 02:23


Фото:

U.S. SEC Hammer Down Crowdfunding Platform ICOBox 

ICOBox, an initial coin offering project (ICO) that raised a whopping $14. 6 million from the sale of its native altcoin in 2017, has been dragged to court by the United States Securities and Exchange Commission (SEC) for selling unregistered securities and functioning as a broker without obtaining the relevant licenses, according to a press releaseRead MoreRead More.

2019-9-20 17:00


Фото:

Kik ICO Trial: Lawyers Issue 130-Page Response Claiming SEC ‘Twisted Facts’

Canadian instant messaging company, Kik, has hit back at the US regulator trying to sue its ICO with a giant public document. Kik Implies ICO Trial Was SEC Publicity Stunt Following that news that the Securities and Exchange Commission (SEC) was taking Kik to court in June, the company has now released a response in which lawyers dissect its allegations on a sentence-by-sentence basis.

2019-8-8 14:00


‘Wrong at Virtually Every Level’: Elon Musk Torches ‘Radical’ SEC for Twitter Gag Attempt

Billionaire Elon Musk fired back at the Securities and Exchange Commission’s February 2019 contempt filing designed to muzzle the Tesla CEO’s Twitter commentary. Elon Musk: ‘SEC’s Position Is Wrong’ In a fiery response filed March 22 in New York federal court, Musk slammed the SEC for its “radical reinterpretation” of a September 2018 consent decree under which he agreed to get approval from Tesla’s board before tweeting anything that could impact TSLA’s stock price.

2019-3-24 14:41


Indian Supreme Court Advocate Says Cryptocurrencies Cannot Be Regulated

A supreme court advocate has explained the limitations of the Indian government’s power to regulate cryptocurrency, determining that the court should not get involved. Meanwhile, the crypto community awaits the government’s regulatory framework and the supreme court hearing of the petitions against the banking ban by the central bank.

2019-3-5 10:35


дальше еще 69 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Эксперты Pantera Capital прогнозируют рост доли Solana на рынке блокчейнов 1 уровня

В своем недавнем отчете аналитики инвестиционной компании Pantera Capital высказали оптимистичный прогноз относительно будущего блокчейна Solana. Они считают, что благодаря ряду преимуществ, Solana имеет все шансы занять лидирующие позиции на рынке блокчейнов 1 уровня.

Notcoin donates $7 million in tokens to Telegram and its founder Pavel Durov

Notcoin, a play-to-earn game, has donated over 1 billion NOT tokens, worth approximately $7 million, to Telegram and its founder, Pavel Durov. In a May 17 social media post, the Telegram-based project shared a screenshot showing its donation and a message expressing its gratitude to the messaging application and its founder.

Animoca Brands анонсировала запуск игрового токена в сети Биткоина

Гонконгская венчурная компания Animoca Brands при участии Opal Protocol и Saakuru Labs запускает токен BLIF. Эмитент обещает, что это будет нативная монета экосистемы Web3-игр, развлечений и децентрализованных финансов в сети Биткоина.