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22 October 2019

SEC Halts Telegram's $1.7 Billion 'Unlawful' Token Issuance

SEC Halts Telegram's $1.7 Billion 'Unlawful' Token Issuance


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Securities and Exchange Commission secured an emergency restraining order against the Telegram Group and its subsidiary TON Issuer for their $1.7 billion token sale.

The SEC announced late Friday that it filed for and received an emergency action and restraining order halting Telegram from selling or otherwise distributing its gram tokens within the U.S.

Telegram sold 2.9 billion gram tokens “at discounted prices to 171 initial purchasers worldwide,” the release said.

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