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SEC Responds To Telegram's Counterclaim

Janelle Fox

Summary: The United States Securities and Exchange (SEC) replied to Telegram’s counterclaim filed on Wednesday with a filing of their own, further insisting that Grams are in fact securities. On Wednesday Telegram attempted to argue that it’s digital currency Grams were not securities, therefore should not be in the SEC’s jurisdiction. In this new document the ...

The United States Securities and Exchange (SEC) replied to Telegram’s counterclaim filed on Wednesday with a filing of their own, further insisting that Grams are in fact securities.

On Wednesday Telegram attempted to argue that it’s digital currency Grams were not securities, therefore should not be in the SEC’s jurisdiction. In this new document the SEC continues to insist that not only are Grams a security, but that Telegram violated security laws. The SEC is insisting that a preliminary injunction should be granted to stop any further violation from Telegram. 

By Janelle Fox

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