SEC, Telegram Agree To Delay $1.7B Token Delivery To Feb.

Law360 (October 21, 2019, 2:16 PM EDT) -- The company behind the messaging app Telegram has agreed to delay its planned delivery of $1.7 billion in digital tokens to buyers until after it goes head to head with the U.S. Securities and Exchange Commission in February over whether the tokens can be considered "securities."

A proposed stipulation put before a New York federal judge on Friday states that Telegram Group Inc. and its wholly owned subsidiary TON Issuer Inc. will not make the Oct. 31 delivery of 2.9 billion digital tokens, known as grams, Telegram has already sold to raise money for its planned launch of a decentralized blockchain...

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