Blockchain Association filed Friends of Court statement challenging SEC's allegations against Telegram

The Blockchain Association filed an Amicus Curiae Brief with the Southern District Court of New York on January 21, which filed a U.S. Securities and Exchange Commission (SEC) allegation against Telegram in October 2019 objection. At the time, the SEC tried to prevent Telegram from delivering its token Grams (GRM) to early investors, claiming that Telegram and the upcoming GRM constituted an unregistered offering. In this regard, the Blockchain Association pointed out that the SEC's interpretation of whether and when digital assets are securities is unclear, and that the purchase agreement model used by Telegram complies with US securities laws.