Blockchain Association Director: Telegram's legal battle with SEC helps advance cryptocurrency legislation

The Blockchain Association said that the ongoing court battle between Telegram and the US Securities and Exchange Commission (SEC) may help advance cryptocurrency regulation. Kristin Smith, executive director of the association, said: "I think the outcome of this case will help to put pressure on Congress to draft a new law to provide a way forward. We hope that the SEC will pass the rulemaking process, or Congress will pass Legislation, rather than a court ruling, to provide a truly clear way for the development and launch of such projects. "It is reported that the SEC tried to stop Telegram's blockchain project TON from issuing tokens, calling it unregistered securities.