Editor's Note: This article comes fromNakamoto Shallot (ID: xcongapp), Odaily is authorized to publish.

Nakamoto Shallot (ID: xcongapp)

Nakamoto Shallot (ID: xcongapp)

, Odaily is authorized to publish.

On March 24, a U.S. judge ruled that Telegram could not issue its cryptocurrency Gram next month as planned, and agreed to the SEC's request. The SEC and Telegram case, which lasted nearly half a year, temporarily ended with Telegram's first-round defeat. However, despite the ruling, Telegram has not given up on token issuance, and it continues to take measures and seek solutions. At present, Telegram is seeking to continue to appeal. At the same time, in the community, developers are discussing the launch of TON without Telegram's participation, which can be said to be two-handed.

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The most direct way for Telegram is to continue to appeal. According to a Cointelegraph report, Telegram is seeking to appeal a recent U.S. federal court ruling in favor of the U.S. Securities and Exchange Commission (SEC). The ruling requires Telegram to stop issuing its proposed GRAM token. Telegram has filed a brief notice of appeal with the U.S. Court of Appeals for the Second Circuit.

Still, at least one commentator was less optimistic about the outcome of Telegram's appeal. According to Philip Moustakis, an attorney at Seward & Kissel LLP and former SEC attorney,

"The standard for appellate review is that the court abused its discretion, which is a very high standard and means that Telegram needs to prove in the review that the district court made obvious factual errors or legal errors."

So far, Telegram's legal team has not responded.

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Developers Discuss Launching TON Without Telegram Participation

A U.S. court ordered Telegram to stop issuing its proposed GRAM token, but that doesn't mean others can't. The TON Community Foundation, a group of more than 20 developers and investors, said they are now discussing a possible path to launch the Telegram Open Network (TON) without Telegram’s participation. Fedor Skuratov said, "We are seriously considering, the community is discussing various possible measures, and no final decision has been made yet."