Telegram Appeals Court Ruling Barring Gram Token Distribution
Telegram has appealed a court ruling barring it from distributing its gram cryptocurrency.
A federal judge denied Telegram's request to issue Gram tokens to non-U.S. investors.
Telegram has asked a court to clarify if it can still issue its tokens to non-U.S. investors after a preliminary injunction blocked the issuance in the U.S.
The advocacy group has supported Telegram's appeal over a U.S. district court's decision to block the firm's token issuance – even outside the country.
A recent ruling stopping Telegram from distributing its cryptocurrency creates new legal peril for public blockchains, argues lawyer Josh Lawler.
Developers are discussing ways to launch Telegram's blockchain without the messaging app company's participation, following a court order tying its hands.