Telegram may postpone cryptocurrency launch due to SEC charges

Telegram may postpone the launch of its own cryptocurrency, which was scheduled for October 31, after the SEC ordered to stop the “illegal” sale of Gram tokens in the country.

According to a Bloomberg report, Telegram sent investors a letter stating that the company is considering ways to resolve the issue of a temporary restraining order from the SEC, including the possibility of delaying the launch of cryptocurrency.

At the end of last week, the Securities and Exchange Commission (SEC) dealt an unexpected blow to the upcoming TON blockchain, accusing Telegram of unregistered sale of tokens a year and a half after the ICO.

According to the SEC, Telegram sold 2.9 billion tokens at discounted prices to 171 investors, with 1 billion Gram sold to 39 US buyers. In a letter, the company said it had been negotiating with the SEC for more than a year about the project.

“We were surprised and disappointed that the SEC decided to file a lawsuit in these circumstances,” the letter said.

Recall that last week Telegram published the rules for using the Gram cryptocurrency wallet, and at the beginning of the month the company confirmed that it plans to launch the TON blockchain in October.