Telegram Loses Latest Battle Round with the SEC Over Gram Tokens

Encrypted messaging service Telegram is putting up a fight with the Securities and Exchange Commission (SEC). The company is in hot water after the government organization claimed Telegram had failed to properly register a token offering a few years ago that resulted in more than $1 billion in revenue for the messaging service.

The enterprise made quite a bit of money after promising delivery of its new “gram” tokens to several individual investors, though at press time, all those deliveries have been suspended until the legal barricades surrounding Telegram can be struck down. Sadly, the federal judge presiding over the case is not siding with Telegram, and has allowed the SEC to enforce the denial, though he hasn’t explained why.

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