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  • Telegram backers filed a listing request before SEC’s lawsuit.
  • SEC accuses TON of issuing security without obtaining permission.

The US-based cryptocurrency exchange Poloniex received an application for listing GRAM, the token of the blockchain project Telegram Open Network (TON). The application was submitted before the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against TON, according to a registration form “Circle Asset Listing Form”. The application was filled by Sergey Vasin, the head of the custodian Gram Vault  and by the COO of the Blackmoon exchange.  

Gram Vault holds 50% of tokens from the first round and 75% of tokens from the second round of financing, according to the application.  

The SEC requested information from Telegram about Gram trading on Coinbase, Poloniex, Bittrex, Huobi, Binance, Blackmoon and Liquid exchanges.  

The company was forced to postpone the launch of TON to spring 2020 due to the SEC lawsuit. The first court hearing will be held in February. The U.S. Securities and Exchange Commission suspended Telegram’s ICO at the end of the previous week. The SEC considers Gram to be a security, while the issuer has not disclosed information about the company’s financial condition, business, management and risks.

Read also: Telegram is delaying the launch of TON until April 2020