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The CFTC Asked to Provide Their Opinion in SEC Case Against Telegram ICO
Summary: The CFTC, under the order of Judge Kevin P. Castel, will provide an opinion to express their views on Telegram's "gram" cryptocurrency, according to CoinDesk. Gram, the cryptocurrency of TON blockchain has been in question throughout a four month litigation. The SEC insists that grams were sold as securities, but Telegram holds that they were ...
The CFTC, under the order of Judge Kevin P. Castel, will provide an opinion to express their views on Telegram's "gram" cryptocurrency, according to CoinDesk. Gram, the cryptocurrency of TON blockchain has been in question throughout a four month litigation.
The SEC insists that grams were sold as securities, but Telegram holds that they were issued as a commodity. The SEC says that grams cannot be considered a commodity because Telegram will need to make an effort to increase its demand by the use of blockchain, and for this reason a gram holds no value. Telegram stands that they never intended grams to be an investment tool; they believe the token will be adopted once TON is live. Bitcoin is a commodity, according to the CFTC because it is registered as a payment service and does not hold oversight by the SEC or the CFTC.
By Claudia Rivera
Tags: CFTC,Lawsuit,SEC,Telegram,TON
Link: The CFTC Asked to Provide Their Opinion in SEC Case Against Telegram ICO [Copy]
