You've Been Served! The SEC vs Telegram, Plus Paxos Get the Green Light, and China Races Ahead! #81

Summary: The Securities and Exchange Commission, or SEC, announced that it has filed an emergency action and obtained a temporary restraining order against the Telegram Group Inc. and its wholly-owned subsidiary TON Issuer Inc. Telegram raised approximately $1.8 BILLION USD during their ICO, which saw the sale of approximately 2.9 billion of their digital tokens called “Grams” at discounted prices to 171 initial purchasers worldwide, including more than 1 billion Grams to 39 U.S. purchasers.