gutturalboo Telegram Channel and Group gutturalboowebview (Sep 2020)

Telegram Inc. announced that it was abandoning its development of the Telegram Open Network (TON). The move comes after the SEC won a preliminary injunction against Telegram in the Southern District of New York in March that blocked Telegram from launching TON and its native cryptocurrency, the Gram. The Court determined that the SEC had shown that there was a substantial likelihood it could prove that Telegram’s plan to distribute Grams into a secondary market constituted an unregistered securities offering.

In a blog post accompanying the announcement, Pavel Durov, the founder of Telegram, acknowledged that the Court’s decision was the reason for TON’s shutdown. Durov expressed frustration that a U.S. court could prevent a foreign based project from commencing, stating, “The U.S. can use its control over the dollar and the global financial system to shut down any bank or bank account in the world.”

Telegram Messenger Inc. voluntarily dismissed its case against Lantah LLC in San Francisco federal court over the use of “Gram” as a trademark for cryptocurrency, after settling with the Securities and Exchange Commission over allegations that the cryptocurrency violated securities law.

The U.S. District Court for the Northern District of California let Telegram drop its claims without prejudice—allowing it to possibly refile them in the future—but vacated a preliminary injunction against Lantah and ordered Telegram to pay its attorneys’ fees.

The court granted Telegram a preliminary injunction barring Lantah from using “Gram” on cryptocurrency in 2018, finding that Telegram used... To read th