SEC has questions to cryptocurrency investment funds

Learn about what the Securities and Exchange Commission of US thinks about cryptocurrency investment funds
11 December 2017   884

On her speech at the ICI Securities Law Developments Conference in Washington, D.C., on Thursday, Division of Investment Management director Dalia Blass said the agency is weighing questions related to newly-registered funds that plan to hold cryptocurrencies.

We also continue to think about new innovations in asset management. For example, we have seen several filings for registered funds that would hold cryptocurrency. As with any new product, there are questions to ask.
 

Dalia Blass

Division of Investment Management director, SEC

These are interesting questions: how to differentiate different types of assets and is there enough proper information to prospective investors regarding the related risks?

How would these funds fit into the existing regulatory scheme? What regulatory structure or structures apply to the market for the underlying instrument? We will be discussing these questions with you as we work through these filings.
 

Dalia Blass

Division of Investment Management director, SEC

These interesting comments came along with growing activity out of the SEC around blockchain, including its policing of initial coin offerings (ICOs) that involve U.S. investors

GRAM May be Traded at Liquid at Triple ICO Price

Bloomberg says that Telegram tokens, that may appear at Liquid will be sold by Gram Asia at $4 per token, but there's no official info from Telegram
04 July 2019   958

Even before the official public release of the cryptocurrency of the messenger, Telegram can increase in price by 200% relative to its value during the initial offer of coins. It is reported by Bloomberg.

As previously reported, Telegram tokens may appear on the Liquid Bitcoin Exchange already on July 10. The distributor is Gram Asia, which calls itself the largest holder of GRAM tokens in Asia. It intends to put up for sale rights to cryptocurrency at $ 4 per unit.

At the same time, one of the investors said to the publication that at the time of purchase the price of 1 Gram was $ 1.33.

It is worth noting, however, that after the announcement of the public sale of Telegram tokens to Liquid, the media reported that this intention had nothing to do with the official plans of Telegram.

Then one of Telegram's investors stated that no one has the right to sell tokens before their official launch in accordance with the signed agreement. Moreover, representatives of the popular messenger noted that they first heard about Gram Asia.

Later, CEO Liquid Mike Kayamora admitted that Telegram has no relation to the placement on Liquid: the deal was concluded exclusively between the exchange and Gram Asia, which allegedly is an incubator for the TON project.

The Block's leading analyst Larry Chermak on several tweets expressed skepticism about the announced Telegram tokenale based on the Liquid stock exchange, saying that he would “think twice before making a decision to invest.”