Telegram should wait to make its case to the U.S. Securities and Exchange Commission (SEC) that its “gram” token isn’t a safety.
According to the newest court docket submitting (see under), the hearing to on the case has been deferred till Feb. 18-19, 2020, pushed ahead from an Oct. 24. slot.
The decide hearing to the case,P. Kevin Castel, dominated that Telegram shouldn’t distribute its tokens earlier than that date, and ne’er till the court docket makes its choice on the case. Earlier this week, Telegram dedicated to delaying the launch of the TON blockchain venture and gram issue to the venture’s traders till April 30, 2020, so it had time to match the SEC’s issues.
In a court docket submittingand emails to TON traders,Telegram disagreed with the SEC that grams are securities, expressing frustration over the company’s late movement to halt the coming late October launch.
On Oct. 11, the SEC hasobtainedan emergency restraining order to halt the launch of TON. The hearing to on the Southern District Court of New York was then regular for Oct. 24.
As it deferred the launch, Telegram extra supplied traders the prospect to sanction the date change, including that if nearly all of gram holders disagree with the delay, they may obtain 77 % of their funding again.