Canamex Gold Corp C.CSQ

Best Avenue for Payback

[shneps]

As seen in the Telegram messenging settlement they have to disgorge over $1B back to investors plus an $18M fine.

Telegram will pay $18.5 million and notify the U.S. Securities and Exchange Commission (SEC) if it plans to issue any sort of digital currency in the next three years in a settlement with the securities regulator, a court filing revealed Thursday.

The settlement, which was reached on June 11 and effectively ends a six-month court fight with the agency, also indicates the messaging platform will be responsible for a $1.22 billion disgorgement that is offset by $1.19 billion paid as “termination amounts” in investors’ purchase agreements and the amounts that some investors loaned to Telegram earlier this year. Telegram has 30 days to pay the SEC penalty and up to four years to pay back investors under the settlement.

Additionally, Telegram should notify the SEC if the company wants to issue “‘cryptocurrencies,’ ‘digital coins,’ ‘digital tokens,’ or any similar digital asset issued or transferred using distributed ledger technology” at any point over the next three years. The notification – which is not a request for an approval – should come 45 days prior to the planned issuance, the settlement reads.

[shneps]

I have attached below the Telegram blog response from Pavel Durov (founder of Telegram) in relation to why Telegram had to give up on their blockchain sales of "grams". In my opinion this is the exact same reason behind why Metalstream and its assosciated entities can't move forward with any of its current blockchain promises. Take specific note of Pavel's references to gold and

[shneps]

What all of this comes down to is the SEC sees Bitcoin and Ethereum as "currencies" and all other crytos as "securities". Therefore as securities where a potential US buyer can purchase them (anywhere in the world) they must be fully disclosed under SEC rules. None of this hiding in Labaun Malaysia to avoid SEC oversight. They have this power currently. It might be different in

[griz14]

hi again    good, grest.    thanks for the info.   great and true help.   the opinions i have been getting is what you have been saying should be done.   some opinions think that canamex should have different management,  that this current management has made very bad business decisions on purpose.  this can be a i billion

[JinFein]

It's very generous to think that regulations are the main thing preventing metalstream and canamex from moving forward with their token ambitions. If anything they've been using their tokens to try and do an end-run around existing regulations and shareholder expectations for their own benefit, and it clearly hasn't worked.