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 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 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.
Jay Clayton’s leaving the SEC. Could this be crypto’s big break?
There are hopes that his successor as SEC commissioner will increase the likelihood of a Bitcoin exchange-traded fund finally being approved
SEC chairman Jay Clayton has been nominated as high-powered position as the U.S. Attorney for the Southern District of New York. Now, nerves are growing as to who will be tapped to take on his regulatory role, where he has been a persistent thorn in the side of Bitcoin and cryptocurrency boosters.