Telegram: Disagrees with SEC litigation and is evaluating postponement

TONTelegram said in a letter to investors that he was surprised and disappointed that the US Securities and Exchange Commission (SEC) chose to file a lawsuit against its token transaction and claimed that he had been trying to contact the SEC "in the past 18 months". Request feedback on its TON blockchain project. The SEC said in the lawsuit that it asked Telegram to respond to an administrative subpoena, but refused to do so. Partly because of this refusal, the SEC stated that it had no choice but to file a lawsuit. Telegram told investors that it would “take a little rest” to get a clearer picture of the legal status of the TON project and its Gram tokens. Stephanie Avakian, co-director of the SEC's law enforcement department, said the emergency action was to prevent Telegram from causing a large amount of digital tokens in the US market, and the SEC said the tokens were illegally sold; the SEC accused the defendant of failing to provide investors with information about Gram and Telegram. Information on business operations, financial conditions, risk factors and management requirements required by securities laws. (The Block)