Telegram denies SEC allegations that its token is a security in new court filing

Messaging app Telegram wants a US court to dismiss the allegations put forward by the Securities and Exchange Commission (SEC) about its token being a security. Telegram outlined its case in a court filing submitted on Tuesday, where it refuted all the allegations made by the SEC. “Plaintiff’s claims are without merit as Telegram‘s private placement to highly sophisticated, accredited investors was conducted pursuant to valid exemptions to registration under the federal securities laws and Grams will not be securities when they are created at the time of launch on the TON Blockchain,” the filing reads. “[…] Plaintiff has engaged…

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