Telegram's $1.7B Grams Offering Remains On Pause

By Philip Rosenstein (February 19, 2020, 11:06 PM EST) -- The cryptocurrency world will have to wait for an adjudication as to whether Telegram's digital assets, Grams, are securities after a New York federal judge extended an existing stipulated injunction against Telegram at the conclusion of a Wednesday hearing and declined to rule on the merits of the case.

A recurring theme at the U.S. District Court for the Southern District of New York courthouse was a focus on the economic realities of Telegram's $1.7 billion sale of Gram tokens, with Judge P. Kevin Castel prodding attorneys for the messaging service and the U.S. Securities and Exchange Commission over the specifics...

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