• Court to Telegram No gram sales
    Regulation

    Court to Telegram: No gram token sales anywhere

    Telegram’s hopes of launching its TON blockchain anytime soon were dashed when a federal judge blocked the public sale of $1.7 billion in gram tokens—even outside of the U.S.

    It’s never a good sign when a judge says the argument in favor of your motion, “is less than straightforward, to be polite.” Unfortunately for messaging app turned blockchain developer Telegram, that's exactly what federal Judge P. Kevin Castel said when its lawyers asked him to “clarify” whether it could sell of gram tokens outside the U.S. while an SEC lawsuit delays the launch of its TON blockchain.

  • Crypto holders ‘alarmingly unaware’ of taxes
    Cryptocurrencies,  Regulation

    Accountants call crypto holders ‘alarmingly unaware’ of taxes

    A new report on the state of crypto taxation makes for grim reading—and concludes accountants fear many investors likely owe back taxes

    The scale of confusion and uncertainty surrounding crypto taxation is so great that half of the American accountants surveyed revealed that they believe most of their clients who own digital assets are likely to be audited.

  • Telegram token sale illegal
    Cryptocurrencies,  Regulation

    Court to Telegram: $1.7 billion gram token sale is likely illegal

    The Securities and Exchange Commission has a ‘substantial likelihood’ of winning an ICO test case against the messaging app firm’s planned sale of gram tokens for its TON blockchain

    A federal judge issued a preliminary injunction stopping Telegram's planned resale of $1.7 billion in gram tokens, saying it is "part of a larger scheme to distribute those Grams into a secondary public market."

  • Sen, Kelly Loeffler Bakkt stock sales
    Commentary,  People,  Politics,  Regulation

    Sen. Loeffler Bakkt into corner by ‘timely’ stock sales

    The former CEO of the Bakkt cryptocurrency exchange sold at least $1 million in stocks after a private senate briefing on coronavirus made clear a market-tanking pandemic was coming

    It is “ridiculous” to think that former Bakkt CEO and current Sen. Kelly Loeffler (R-Ga.) would know that she began selling several million dollars’ worth of stock beginning the same day a private senatorial briefing on coronavirus made clear they would soon tank.