SEC Bars Telegram Cryptocurrency Sales

The highly-anticipated Graham Network was supposed to go live on October 31st but now the SEC has crashed that party yet again. The SEC has formally instructed telegram to halt its sales of its Graham token saying that its subsidiary ton issuer failed to register an early sale of its 1.7 billion dollars worth of tokens. It filed an emergency action on Friday and obtained a temporary restraining orders against two offshore entities on the fact that telegram violated the registration provisions of the Securities Act of 1933.
The agency said that telegram sold 2.9 billion gram tokens worldwide with more than 1 billion to US investors without registration telegram had already cancelled an ICO in May of last year due to regulatory concerns in a note to investors telegram is considering ways to resolve the temporary restraining

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