#KCN: United States District Court ruled against GRAM token

The U.S. District Court ruled against Telegram, currently banning the distribution of the GRAM token. According to the court decision: “The Securities and Exchange Commission (“SEC”) seeks to enjoin Telegram Group Inc. and TON Issuer Inc. (collectively “Telegram”) from engaging in a plan to distribute “Grams,” a new cryptocurrency, in what it considers to be an unregistered offering of securities… Considering the economic realities under the Howey test, the Court finds that, in the context of that scheme, the resale of Grams into the secondary public market would be an integral part of the sale of securities without a required registration statement”. Follow the world of blockchain with us!
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Info: https://www.asx.com.au/documents/asx-news/asx-consults-on-timing-of-chess-replacement-project.pdf