Telegram Group Inc. lawyers told the Southern District of New York State Court that the company intends to suspend operations with the Gram cryptocurrency for five months until all legal issues are resolved.
According to the document, defendants will not sell or transfer their Gram cryptocurrency for at least five months after reaching the relevant agreements. The company also expressed its readiness to notify the commission 30 days before making these operations.
Earlier, media reported with reference to sources that the launch of Pavel Durov`s cryptocurrency platform could be postponed for six months or a year. It is supposed to consider the SEC statement, which requires the acceptance of the Gram cryptocurrency as securities at a meeting on October 24.
Recall that SEC filed a lawsuit in the District Manhattan court against two companies that were associated with the Telegram ICO on October 11, 2019. Employees of the Securities and Exchange Commission want to recognize the cryptocurrency GRAM illegal and prohibit it in the United States.