In the ever-expanding universe of cryptocurrencies, Tether (USDT) has emerged as a significant player. Tether (USDT) is a cryptocurrency that serves as a stable coin, pegged to fiat currency, specifically the US dollar. It was created to provide stability in the cryptocurrency world, allowing users to conduct transactions without being subject to significant price fluctuations, and for storing and transferring value within the cryptocurrency space. Over the years, it has become one of the most popular cryptocurrencies among traders and investors, holding a special significance in the cryptocurrency market. In this article, we will explore what Tether is, how to buy and store it, and delve into the key aspects of using this cryptocurrency.
The launch of TON, announced on 30.04.2020, has been temporarily suspended by the US Federal Court
The issuance of Gram tokens has been suspended by the Federal Court of the State of New York, which were supposed to be distributed within the Telegram application, with an investment capital of $ 1.7 billion.
The Southern District Court ruled in favor of the SEC (US Securities Commission) and imposed a ban on the transfer of Gram tokens to their original buyers (175 investors) who acquired the rights to them as part of the IPO in early 2018. The court considers that “Gram” is a security, not a digital asset (cryptocurrency), which violates US laws governing the securities market, namely, an attempt to issue tokens, in accordance with the established precedent.
The decision of the court is a temporary restriction. Rumor has it that the key to this decision is the concept of “temporary suspension”, that is, we are not talking about a total ban, but only about temporarily holding a new asset, which many are looking forward to, since Pavel Durov announced not just a new digital asset, but new platform based on blockchain. A feature of the Gram blockchain platform is the high speed of transactions.
Also, there is an opinion that the policy of containment of new competitive assets, such as "Gram" from the Durov brothers, and "Libra" by Mark Zuckerberg, is artificially restrained as the US Democratic Party tries to digitize the dollar. At the same time, the US financial system will not introduce blockchain and will not create another cryptocurrency.Under the proposal, digital dollars would exist in a "digital dollar wallet". Democrats have even introduced a bill to issue a digital dollar.
The court materials describe plans to integrate TON Blockchain with the Telegram messenger, which has a large user base, but which is not monetized at the moment. In particular, Telegram was going to reserve 10% of Gram after the launch of the platform to create incentive programs that would contribute to the wide distribution of tokens.
Recall that two British companies that were directly connected with Telegram and TON were liquidated by Pavel Durov.
The world learned about the launch of Gram-coin at the beginning of 2018. Cryptocurrency "Gram" from the creator of the social network "VKontakte" and the messenger "Telegram" was and is one of the most discussed projects, both in the digital money market and in general throughout the world.
Under the terms of the closed rounds for the sale of Gram coins, the release of the launch of the main Telegram Open Network (TON) was scheduled for autumn 2019. It was also agreed that in case of violation of the launch deadlines, Pavel Durov would have to return to investors their investments in this project. By the way, the amount of investments amounted to 1.7 billion dollars. Initially, there was no doubt that the world would see "Gram" just in time.
In October 2019, the US Securities and Exchange Commission decided to shut down the sale of GRAM in the US with a temporary injunction. Because of this, the Telegram team decided to postpone the launch of the project to April 2020, while not losing faith in the possibility of resolving all issues with the (SEC) before that time.
Today it is known that according to the entry in the official register of companies in the UK Companies House, on February 11, 2020, two companies - Telegram UK Holdings Limited and Telegram Systems LLP - ceased to exist. The application for their liquidation was submitted on November 14, 2019. This decision was made by Pavel Durov himself in order to break all links between the Telegram messenger and the Gram cryptocurrency.
A lawsuit with the American regulator - the Securities and Exchange Commission (SEC) may end badly for an entrepreneur, which means that it is better for him to have nothing to do with the UK.
Litigation between Pavel Durov and (SEC) has been adjourned until April 30, 2020. It is reliably known that the position of the SEC is stable and was accepted by the court as justified. According to the preliminary opinion of experts, this may end badly for Pavel Durov as a whole, but there are only two ways out of this situation - to pay fines and resolve issues with the SEC, or to return $1.7 billion to investors.
Recall What do we know about the TON network and its launch
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