Judge Castel’s Firm Stance on the Gram Tokens
In a world where cryptocurrencies float like erratic balloons at a kid’s party, a U.S. District Judge made it clear: Telegram’s Gram tokens are not welcome here—or anywhere for that matter. Judge P. Kevin Castel, with a firm hand, upheld an injunction on April 1, extending restrictions on Gram tokens to all entities, be they stateside or abroad. This came just days after Telegram requested some clarity about the preliminary injunction issued on March 24.
The SEC Gets Its Way
In a courtroom showdown reminiscent of a heavyweight boxing match, the U.S. Securities and Exchange Commission (SEC) knocked Telegram off its feet. The Judge sided with the SEC’s arguments, stating that Telegram had no convincing evidence against the expansive scope of the injunction. Apparently, arguing your case without making an argument is like attending a pizza party and opting for a salad—it’s just not going to convince anyone.
Telegram Can’t Safeguard Its Way Out
In a surprising twist worthy of a daytime soap opera, Telegram claimed it could implement ‘safeguards’ to keep U.S. investors at bay. But Judge Castel wasn’t buying it. He pointed out that Telegram’s arguments appeared only after the pre-injunction discovery phase had ended. It’s like showing up to a potluck with no dish but still expecting to eat—where’s the logic in that?
Is the TON Blockchain Safe?
For those of you clutching your pearls, worried about the future of the TON blockchain, fret not! Legal expert Michael Bacina reassured that the injunction affects the distribution of GRAMs, not the operation of the TON Blockchain itself. In simpler terms, as long as Telegram keeps its virtual hands off the Grams that were part of the ICO, it can still launch the mainnet. A bit of a relief, isn’t it?
The Community’s Next Steps
The TON community, undeterred by the judge’s ruling, is ready to take matters into its own hands. Fedor Skuratov, a community representative, declared, “No one can prevent the launch of TON by any other entity, person, or community, because TON is a decentralized open-source solution.” So basically, it sounds like a DIY kind of situation—grab your tools, folks, because the community just might run with this project without Telegram’s involvement.
