RATE Group | Telegram’s cryptocurrency kickoff halted by SEC
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Telegram’s cryptocurrency kickoff halted by SEC

14 Oct Telegram’s cryptocurrency kickoff halted by SEC

Posted at 03:13h in Cryptocurrency News by

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Angela Lang/CNET

An initial coin offering by encrypted messaging service Telegram has been halted by a restraining order filed by the US Securities and Exchange Commission. According to the SEC on Friday, the emergency action will temporarily prevent what it alleges is an unregistered ICO that’s already raised $1.7 billion. Around 2.9 billion digital tokens called grams have been sold to 171 purchasers, the SEC alleges.

Telegram had announced its plans in late August to kick off its own cryptocurrency and is planning to launch its blockchain by Oct. 31, according to the SEC.


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