• SEC kills Unikrn
    Regulation

    Online gaming platform with A-list investors killed by SEC

    Ashton Kutcher and Mark Cuban were among the investors in Unikrn, which is paying a $6.1 million penalty that is ‘substantially all of the company’s assets’ and disabling its tokens

    The U.S. Securities and Exchange Commission’s unrelenting crackdown on unregistered initial coin offerings has claimed another victim—this time, an online gaming and gambling platform that attracted a star-studded list of investors.

  • Telegram drops Gram trademark
    Alt coins

    In a coda to its failed TON blockchain project, Telegram abandons trademark suit

    Telegram paid one last time—to a competitor—for the death of its plan to distribute $1.7 billion in Gram tokens at the hands of the SEC

    The messaging service turned blockchain developer dismissed its lawsuit against crypto firm Lantah, which plans to use Grams as the name of its own tokens. The decision is presumably the result of Telegram abandoning the project that would use the trademark following its settlement with the U.S. Securities and Exchange Commission (SEC).

  • Telegram discontinues TON testnet
    Alt coins,  Regulation,  United States

    Telegram Open Network pulls the plug on testnet, in final blow to doomed project

    The grim milestone marks the end of a sorry journey for TON, almost a year after the testnet first launched

    In a July 6 update, the development group driving TON wrote: “Our remaining validators will be switched off not later than 1.08.2020. Please save all relevant data and terminate your testing process.”

  • Telegram SEC settlement
    Cryptocurrencies,  People,  Regulation

    Telegram and SEC agree on settlement, $1.2B to be returned to investors

    ‘We hope the regulatory environment for blockchain technology in the US becomes more favorable for others in the future,’ Telegram CEO Pavel Durov says

    For eight months, the encrypted messaging app and the regulator have been coming to blows—with the SEC claiming the company’s $1.7 billion sale of gram tokens was an illegal securities sale. Under the deal announced on June 26, Telegram would pay an $18.5 million penalty and return $1.2 billion—about 70% of the funds raised—to investors.

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