Telegram asks court to clarify whether preliminary ban is limited to U.S. ICO investors

US courts have issued a preliminary injunction against Telegram's token issuance. The allegation was that Telegram's GRAM tokens operating on the TON blockchain were illegally sold as securities, and the judge supported this view of the SEC. Judge P. Kevin Castel submitted a written statement to the Southern District Court of New York this week that "the U.S. SEC has shown great success in proving Telegram's current GRAM distribution plan is to issue securities under the Howey test." Now, Telegram's lawyers are fighting back with their paperwork to learn more. They wrote a letter to the judge asking in detail about the injunction. "The defendant respectfully sought to clarify whether the scope of the preliminary injunction set out in the order only applies to purchase agreements with U.S. investors. We appreciate the court's attention to this issue, and if the court needs more information about this request, we Available at any time. "In other words, their question is: Does the ban only apply to ICO investors in the United States, or to everyone? Telegram raised $ 1.7 billion during the ICO, a large portion of which came from outside the United States. If the ban applies only to U.S. investors, it is theoretically possible for Telegram to launch TON without U.S. funding.