Вести.net: the U.S. Supreme court put an end to cryptocurrency Gram

the U.S. Supreme court effectively put an end to cryptocurrency project of Pavel Durov. The decision was made by the district court of new York, he agreed with the requirements of the securities and exchange Commission and recognized cryptocurrency, called Gram is not just a cryptocurrency, but a very valuable paper. Pavel Durov and his company Telegram planned to deploy a blockchain network TON, and give users the ability to pay with cryptocurrency Gram. The launch was scheduled last year, but the Commission on securities and stock exchanges of the USA have blocked it. Explained by the fact that the project invested by American investors, they accounted for about a third of all borrowed funds. From Durov demanded to cancel the launch or return the money of the Americans.

ultimately, the court long to decide whether you can consider scriptactive company culture is a valuable paper, which regulate the circulation of power. And here is a quote from the conclusion: “Bearing in mind economic realities, the court concludes that the Gram resale in the secondary market is essentially selling the securities without mandatory registration application. Telegram knew and understood that reasonable buyers will not want to pay $1.7 billion to buy a Gram just as a means of storage or transmission. Telegram has developed a scheme for maximizing the amount of initial purchasers would be willing to pay. It allows these buyers to maximize their resale value Gram on the public markets.

If strongly to simplify, the logic of the court the following: “We understand that investors of the project expected it to sell bitcoin at a profit, and not to use it for calculations, and thus is a security issue and it had all the rules, with all the restrictions. Pavel Durov, in turn, argued that the Telegram did not guarantee anyone a profit from the project, as the network TON, will work with the Gram currency is decentralized and the author of the project himself could not control, but, apparently, the court, such arguments were not heeded.

Question – what will happen now with the project. It is known that have invested in it, in particular, large us funds from silicon valley. For example, Sequoia Capital, and private investors: billionaire Roman Abramovich, the founder of group E4 Michael Abyzov, former co-owner of Vimm-bill-Dann David Yakobashvili, the founder of Qiwi Sergey Solonin. Durov promised them a return of around 77% invested, if TON will not start. However, the people associated with the project have stated that in fact the system is ready and it can start any party. However, apparently, Pavel Durov not ready to go at it and start an open conflict with the us regulator. However, the founder of Telegram, it is still possible to appeal, although the lawyers say that the chances of winning there is almost no.

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In the virtual race took part the real Nascar drivers. They all competed remotely from their living rooms, certainly not just from the keyboard. In General, if the lockdown will last, you can expect drivers developers such structures, close to real car. Good channel Fox Sports has promised to continue these broadcasts. In fact, him and to go nowhere. Broadcasts real competition consider left. Here already and “Formal-1 is” testing the virtual race. Even the players are real and professional already drawn converge on the stadiums and it is harvested there is a real audience.

Text: To.Hi-tech