Telegram to Pay $18.5 Million, Return Investor Money to Settle US SEC Charges [ Gram Token , Scams and details about telegram]

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Telegram a very popular chatting app which is used in crypto currency promotions and offering different airdrops of newly made tokens got penality and Telegram has to pay $18.5 million as civil penalty .

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Last October, the SEC ordered Telegram to halt sales of its cryptocurrency (called Gram) after it failed to register an early sale of $1.7 billion in tokens prior to launching the network. The funds were raised in a series of what Telegram billed as pre-ICO offerings back in 2018, though the company ended up canceling the much-hyped ICO due (in part) to increased SEC scrutiny.
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the penalty was given due to the unregistered crypto currency token offering offered by telegram ,it was the main reason of penalty given by the US Securities and Exchange Commission ( SEC )

Telegram sold About 2.9 billion "Grams" to global investors which made a big blunder because they haven't registered on SEC .

New and innovative businesses are welcome to participate in our capital markets, but they cannot do so in violation of the registration requirements of the federal securities laws," said Kristina Littman, chief of the SEC Enforcement Division's cyber unit.
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To resolve the charges held at telegram they agreed to return $1.2 billion to investors to resolve charges .

Moreover the popular TON ( Telegram Open Network ) telegram has now ended as pavel durov founder and CEO said that many sites are now using the name and connection on ton to promote their own businesses .

TON was a blockchain platform designed to offer decentralized cryptocurrency to anyone with a smartphone, in a similar fashion to Facebook’s Libra project (which has also faced significant scrutiny).
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Because telegram was trusted by everyone and almost each and every crypto holder is using telegram but when telegram observed the power of crypto world they also tried to offer their own crypto tokens ICO ( initial coin offering ) to gain market in cryptomarket . But due to the policies telegram cannot launch Gram .

After this news many people tried to scam other people by saying that they got tokens and if people want gram they need to pay a little money and as always when people give money they ran away scamming different people .

The questions which arises are as follows :

Is gram a Cryptocurrency?

Yes it is all the Users of Telegram messenger get a wallet and can use Gram to transact on the app.
Gram would be run on a decentralized network. The coin can be traded like other cryptocurrencies.

Telegram abandons Gram token: What does it signal for future of coin offerings?

Maybe we can say that it could be a problem for not only the companies who will offer but for the investors , companies would have legality issues due to US policies against cryptocurrency . However cryptocurrency is still banned in many countries .

Finance power of telegram

Telegram raised a whopping $1.7 billion in their 2018 token sale (the second largest token sale ever, after Block.one), but the exact numbers and breakdown of US-based vs. global purchasers provides further insight.
The $1.7 billion was raised from 171 total purchasers, including $424.5M from 39 U.S.-based purchasers, and $1.28 billion from 132 non-U.S. based purchasers.
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by seeing above we can say surely say that telegram has become another richest app .

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6 comments
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Funny enough, someone sent this gram free to me that I should register. I didn't have much idea of it cos of my little knowledge in crypto. Anyway, thanks for the info.

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gram free is different i think As gram free is other website and Grams of telegram was something different maybe i am wrong but thats what i have researched

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