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Telegram may have to delay its cryptocurrency launch
Telegram, a popular encrypted messaging app with about 300 million users, may postpone plans to launch its own cryptocurrency after the Securities and Exchange Commission obtained a restraining order to stop the sale of the tokens in the U.S.
The company, which raised more than $1.7 billion last year for its project, told investors it’s evaluating ways to resolve the agency’s concerns, including potentially delaying the issuance of the tokens beyond its October 31 target, according to a note sent to investors and seen by Bloomberg News. [Bloomberg]
Telegram, a popular encrypted messaging app with about 300 million users, may postpone plans to launch its own cryptocurrency after the Securities and Exchange Commission obtained a restraining order to stop the sale of the tokens in the U.S.
The company, which raised more than $1.7 billion last year for its project, told investors it’s evaluating ways to resolve the agency’s concerns, including potentially delaying the issuance of the tokens beyond its October 31 target, according to a note sent to investors and seen by Bloomberg News. [Bloomberg]