Telegram Responds to SEC: Gram Tokens Are Not Securities

Telegram is pushing back against the U.S. Securities and Exchange Commission (SEC).

The messaging platform filed a response to the securities regulator Wednesday, writing that the SEC’s emergency injunction last week was unwarranted. Telegram is asking a federal court to deny the regulator’s motion to enforce a subpoena.

Further, Telegram argued its upcoming gram token is not a security, and the SEC should not be able to force the company to produce documents or witnesses about its blockchain project.

Read more:https://www.coindesk.com/telegram-responds-to-sec-gram-tokens-are-not-securities

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