Telegram Quits Court Fight With SEC Over TON Blockchain Project

[Paglamon]

Telegram has thrown in the towel in its court battle against the U.S. Securities and Exchange Commission (SEC) and will no longer be fighting the ban on its blockchain token project.

In a filing on Friday (see bottom), the messaging app provider said it was withdrawing its appeal over a previous court decision that backed the SEC in prohibiting the issuance of “gram” tokens to investors both in and out of the U.S.

The new document filed with the U.S. Court of Appeals for the Second Circuit states: “The parties in the above-referenced case have filed a stipulation withdrawing this appeal pursuant to Local Rule 42.1.”

The rule means that the parties have filed an agreement for dismissal of the case without prejudice. As such, the case is over for now, but not necessarily forever.

Telegram raise $1.7 billion in a private token sale in early 2018 to develop a blockchain named the Telegram Open Network, or TON. The project was halted by the SEC for violating U.S. securities law in October, weeks before its scheduled launch.
Source: https://www.coindesk.com/telegram-withdraws-appeal-sec

[IyemRoker]

It does not matter that the Telegram has failed in the development of crytpocurrency but I believe that development also takes a long time.
So, in my opinion, this Telegram needs coworkers or partners to develop GRAM to become a living altcoins.

I will assume that this GRAM must work with TRON because TRON has proven to have a large capacity, a large community and certainly has a large fund from Justin Sun.