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TON Responds to Investors After SEC's Attack, Telegram Cryptocurrency Might Be Delayed

  •  Denis Sinyavskiy
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    Telegram cryptocurrency TON may be delayed due to a lawsuit filed by SEC, a letter to investors said

TON Responds to Investors After SEC's Attack, Telegram Cryptocurrency Might Be Delayed
Cover image via news.u.today

Telegram Open Network (TON) developers finally responded to their investors after a lawsuit filed by SEC. In a letter to investors, which was shared with the U.Today editors, the Telegram Open Network clarifies the situation with SEC, as well as talk about possible solutions to the problem and even delaying the launch date of the TON cryptocurrency.

The letter said, that the developers have actively interacted with the US Securities and Exchange Commission over the past 18 months, as well as received feedback on the TON blockchain. However, the SEC decision openly surprised them, here are the words from the letter:

“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.”

At the moment, cryptocurrency developers, together with consultants, are looking for the best way out of the situation. Here is what the letter says:

“We are continuing to evaluate the best means by which to resolve the situation in the interests of relevant parties, including but not limited to assessing whether to seek to delay the launch date.”

From the above words, it can be understood that the launch of the Telegram’ cryptocurrency planned for October can be delayed.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
    📰 News

    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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