US Market Constable Blocks Telegram Fundraising in the United States

The encrypted messaging platform has already raised more than $ 1.7 billion, including $ 424.5 million from US investors, for its cryptocurrency project.

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Reverse for Telegram: the American Constable of Markets (SEC) has Friday Friday, October 11 of the US justice it temporarily blocks the fundraising of the encrypted messaging platform. The SEC was sued on the grounds that Telegram, which has already raised more than $ 1.7 billion from 171 private investors for its cryptocurrency project, had not registered its offer and terms with the market watchdog, she said in a statement. The stock policeman said that approximately $ 424.5 million of this amount came from American investors, 39 of whom gave him jurisdiction to take legal action in the United States.

The success of the fundraising was such that messaging canceled the organization of a public fundraiser, requiring to wait for the official launch of "Gram" to obtain the new cryptocurrency. In addition to the fact that the offer has not been registered, the SEC notes that Telegram has not disclosed to investors any information about its financial position or business plan. The gendarme also estimates that the amount already raised far exceeds the needs of Telegram to finance its virtual currency and continue the development of its messaging.

Read also Telegram can remove any "trace" of a conversation, even on the phones of others

With an extensive network of 250 million email users, Telegram announced the launch of its virtual currency, Gram, by October 31st. Its Telegram Open Network (TON), based on blockchain technology, should create a whole secure and fast payment system «An alternative to Visa and Mastercard for a new decentralized economy», according to a document leaked last year.


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