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Telegram Promises not to Offer, Sell, Deliver or Distribute its Cryptocurrency until at least February 2020

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According to a Stipulation and Consent Order (“Order”) filed with the United States District Court, Southern District of New York on October 18, 2019, Telegram has agreed that it will not offer, sell, deliver, or distribute Grams, its cryptocurrency, at least until its Court Hearing on February 18 and 19, 2020.  The Order also states:

  • That either party may conduct expedited discovery and provides a method to resolve any discovery disputes that may arise;
  • Telegram must promptly provide the SEC with notice of any amendments to Purchase Agreements in connection with the Grams;
  • Parties shall take reasonable steps to preserve evidence; and
  • Parties shall adhere to a briefing schedule.

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