TON to Report on Its Plans After SEC Actions

According to the letter to the investors, TON team was trying to get the SEC's feedback for 1.5 year, without any luck
14 October 2019   430

Telegram does not agree with the legal position of the SEC, but considers the delayed launch of the Telegram Open Network (TON) among possible solutions. This is reported by the Coindesk.

Over the past 18 months, TON developers have allegedly tried to establish communication with the department and receive feedback.

We were surprised and disappointed that the SEC chose to file the lawsuit under these circumstances, and we disagree with the SEC's legal position.

TON Team

Telegram lawyers are studying several options for resolving the problems that have arisen, including delayed launch. It’s also known that in the contract with investors the project is deadline until October 31 - otherwise, investments will have to be returned.

Scam ICOs Founder to Go In Jail For 1.5 Years

Maxim Zaslavsky from New York aws found guilty in launching 2 fraudulent ICOs which raised $2.8M in total
19 November 2019   202

Brooklyn-based 39-year-old Maxim Zaslavsky, who was found guilty of fraud in organizing two ICOs, was sentenced to 18 months in prison. This was reported by the attorney of the Eastern District of New York.

Zaslavsky and his associates deliberately misled about 1,000 investors that the REcoin cryptocurrency they created was backed by real estate investments in developing countries. During the ICO, they managed to raise $ 2.8 million.

In August 2017, a Brooklyn entrepreneur launched a second cryptocurrency, calling it Diamond Reserve Coin, which was supposed to be provided with diamonds.

The total amount that victims invested in these fraudulent ICOs will be determined later.

In November 2018, Zaslavsky pleaded guilty and, according to his lawyer, was ready to return the money to investors, but his accounts were blocked.