Former CFTC chairman: Telegram ban could be "knell bell" for SAFT framework

According to Decrypt, Gary Gensler, former chairman of the US Commodity Futures Trading Commission (CFTC), said Tuesday that a federal court decision on Telegram (prohibiting the delivery of GRAM to investors) could be a "knell bell" for SAFT (simple agreement on future tokens). A federal court ruling means that the SAFT framework does not guarantee that tokens are not subject to securities laws, and specific tokens still need to pass the Howey test.