Former NASDAQ counsel warns the TON Community against launching Telegram’s blockchain network until the 2nd U.S. Circuit Court of Appeals has its say.
Safe Harbor is not on SEC’s agenda
Manny Alicandro, a New York City lawyer with vast experience in traditional finance as well as in cases involving crypto assets, shared his concerns about the drastic plan put forward by the TON Community with Cointelegraph. He noted that in the foreseeable future, all issuers have to respect the Howey test. This may only change:
“... if the Three-year Safe Harbor proposal by Commissioner Peirce is ultimately approved. With that being said, Commissioner Peirce's term expires in June 2020 and the proposed Safe Harbor is not on the SEC's rulemaking agenda. In the instance that it is added and put out for public comment, this process can take years to seek final approval.”
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