Telegram to Raise $850 in Second Round of ICO

This amount is taken from the Pavel Durov's report to US SEC
30 March 2018   817

CEO Telegram Pavel Durov reported to the Securities and Exchange Commission (SEC) on attracting $ 850 million from 94 investors in the second phase of the closed ICO of TON project. The minimum investment amount was $ 1 million. The document is published on the SEC website.

Earlier in the pre-sale phase, Telegram attracted $ 850 million from 81 investors. At the pre-sale stage, some sources claimed that Telegram received bids for $ 3.8 billion.

The fact that Telegram will hold the second round of tokensale known at the end of February. On it the command of the messenger planned to collect up to $ 1.7 billion.

According to Vedomosti which refer to the investor, whose fund participated in the completed stage, the messenger plans to hold the third round of investments before the end of the year, but its terms are still unknown. The price of the token during the third round will be above $ 2, he assures.

According to the latest version of the whitepaper of the messenger, as early as the first quarter of 2018 the messenger should provide a service for external authentication of Telegram External Secure ID users - in the future, it will allow purchasing the cryptocurrency without additional personal confirmation. And in the II quarter of 2018, Telegram promised to launch testing of the minimum viable version of the TON blockchain platform.

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Bermuda to Issue First ICO License

The first 'official' ICO that will be held at Bermuda is Uulala
19 October 2018   49

Bermuda’s Minister of National Security, Wayne Caines, said that the Uulala fintech company received the first ICO license in the region. It is reported by the Royal Gazette.

In July, the Secretary of the Treasury of the Overseas Territory of Great Britain, David Bert, introduced new regulations for fintech products and services. The bill classifies initial coin offers (ICO) as “limited business activities”.

The draft law also states that before holding a tokensals, companies must provide information about the proposed digital assets, the financing system, the amount to be raised and various technical aspects. In addition, you must obtain consent from the Minister of Finance of the region.

The CEO of Uulala, Oscar Garcia, reported that the process of obtaining a license took four months. Fintech offers a decentralized peer-to-peer network “to attract cash into the digital economy.” During the ICO, Uulala plans to raise $ 50 million.

We are looking at operating from Bermuda. The Bacardi story resonated with us — a group of Cuban Latinos who went to Bermuda and established their headquarters there. We are looking at doing something similar. Bermuda is known as a financial hub and it is very forward-thinking on blockchain and fintech.

Oscar Garcia

CEO, Uulala

The government of Bermuda began to develop bills for the legalization of the ICO in March. Then David Bert said that Bermuda could be an example for other countries in the field of ICO regulation.