Telegram cancels the debut of Gram cryptocurrency

At least postponed debut for Gram, the cryptocurrency of Telegram which (just as is happening in Libra) continues to encounter obstacles on its path. We wrote about the story in the past few months when the company confirmed its willingness to carry on the project, not to find itself in a position to have to repay what was offered by investors (1.7 billion dollars) as a result of a failure to meet the announced deadlines At first.

Telegram: launch postponed for Gram crypto

The concerns expressed by the Securities and Exchange Commission seem to have pushed the team into putting everything standby: no debut by October, no chance to buy i token and exchange them as virtual currency.

In the past, the request of the documentation concerning the functioning of the US has come from the US federal agency blockchain at the base of the Gram initiative. A claim not immediately welcomed by Telegram, a company known mainly for its application dedicated to messaging, preferred by those seeking an additional level of privacy protection compared to what happens for example with WhatsApp.

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Below is what we read in the documentation that confirms the stop to the project. We report in translated form a useful passage to understand what the concerns raised by the Securities and Exchange Commission.

Telegram has agreed to stipulate that it will not initiate any offer, sale or distribution of its expected cryptocurrency called Gram, so that it can maintain the status quo until the Court has resolved the problems related to the center of the matter.

It cannot be ruled out that Telegram could relaunch the initiative in the future. The decision announced today aims to avoid one preliminary injunction by the SEC, no longer necessary as the willingness to distribute the virtual currency has been set aside.

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