Telegram will not dispute Gram coin distribution ban

Telegram will not dispute the ban on distributing Gram coins. The relevant appeal has already been withdrawn by decision of the parties using the appropriate form under rule 42.1 – “leave without consideration”.

Recall, representatives of the messenger tried to protest the temporary ban on the issue and distribution of Gram tokens, adopted in a dispute with the US Securities and Exchange Commission (SEC) on March 24. The decision made by the court did not allow the sale of a crypto asset not only in the United States of America, but also outside the country, which became a catalyst for stopping work on the project as a whole, which was announced by Telegram founder Pavel Durov in the middle of this month.

It is worth noting that litigation related to the Telegram blockchain project will probably not end there. At present, the issue of compensation to investors remains unresolved, thanks to which the messenger managed to attract $ 1.7 billion. Earlier, the Durov team announced the return of 72% of the assets or, if the project partners draw up their investments in the form of a loan, 110% of the investments. In the latter case, Telegram will return all funds by April 30, 2021.