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Commentary to the Vedomosti newspaper on the Telegram case

21 января 2020

Alexander Nadmitov, Managing Partner Nadmitov, Ivanov and Partners, commented on the Vedomosti newspaper regarding the brief of the Chamber of Digital Commerce friends filed in the lawsuit filed by the American Securities Market Commission (SEC) against Telegram in the federal court of Yuzhny County of New York. Neither the appeal of the chamber to the court, nor its expert opinion have any legal weight, Alexander Nadmitov, managing partner of the law firm Nadmitov, Ivanov and Partners, is sure, the judge will decide whether it is worth listening to its arguments. Full article: https://www.vedomosti.ru/technology/articles/2020/01/21/821139-sec-telegram?fbclid=IwAR0o3dRb3fb5HAP...

The Chamber of Digital Commerce, which brings together influential actors in the blockchain industry, filed a brief of amicus curiae in a lawsuit against the US Securities Market Commission (SEC) versus Telegram in the federal court of the Southern District of New York ... The Chamber of Digital Commerce expressed concern about the potential impact of the court decision on the future of the blockchain industry and asked the court to distinguish the subject of an investment contract from the digital asset itself, which requires an analysis of whether the investment contract was offered in a securities transaction and whether the subject of the investment contract is a commodity that could be the subject of a regular commercial transaction. The chamber also asked the court to admit that a digital asset is not always a security just because of its digital form.

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