RATE Group | Telegram Could Delay Cryptocurrency Issuance after U.S Stops Token Sale
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Telegram Could Delay Cryptocurrency Issuance after U.S Stops Token Sale

14 Oct Telegram Could Delay Cryptocurrency Issuance after U.S Stops Token Sale

Posted at 19:36h in Cryptocurrency News by

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Telegram could postpone the initial plan of issuing its own crypto on the Telegram Open Network by October 31 after the United States Securities and Exchange Commission (SEC) gave orders for the stoppage of the alleged “unlawful” token sale in the U.S.

Bloomberg reported Monday that Telegram had sent a note to investors saying it is considering approaches to resolve the short-term restraining order from the SEC, including the possibility of delaying the issuance after the October 31 deadline.

On Friday last week, the SEC said that it filed for and obtained an emergency action and impeding order stopping Telegram from selling or distributing its gram tokens in the United States.

The commission said Telegram sold 2.9 billion gram tokens globally, with over 1 billion to U.S. investors allegedly without registering the token with the securities regulator.

Telegram was reportedly planning to launch the network’s mainnet before the end of October. Technology…

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