SEC commissioner’s crypto enforcement proposal could impact landmark case v. Telegram – Reuters

On Feb. 19, U.S. District Judge Kevin Castel of Manhattan will hear competing motions for summary judgment in the Securities and Exchange Commission’s most significant enforcement action to date against a blockchain developer. The SEC will argue that entrepreneurs from the encrypted messaging app Telegram breached securities laws when they raised nearly $2 billion to develop a new blockchain platform. Telegram will counter that it wasn’t required to register its offering – and that the cryptocurrency tokens investors will receive are not in the SEC’s purview. Blockchain industry groups, as I told you last month, filed amicus briefs in the case, pleading with the SEC to provide clearer regulations for digital assets and to set out a better-defined path to launch blockchains.

It turns out that at least one SEC commissioner agrees with a lot of what Telegram and its backers have said.

via SEC commissioner’s crypto enforcement proposal could impact landmark case v. Telegram – Reuters.