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Telegram launches its Gram cryptocurrency by October 31 or outage

The cryptocurrency of Telegram – the Gram – can still be made public. The encrypted messaging app company plans to launch the first batches & # 39; of the medal in the next two months a report The New York Times.

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The last time we reported on the Gram was to note that Telegram canceled its original coin offering (ICO), so the news can be a bit of a surprise unless you have followed Telegram and cryptocurrency closely. But if you've done that, you probably have heard a rumor that Telegram has a hard deadline for it to happen: if it does not deliver on October 31, it will legally lose the $ 1.7 billion it has raised to realize those coins.

That deadline of 31 October is realistic, according to legal documents assessed by the Times, so the company tries to make those coins real and as fast as possible.

Users will apparently store them in a Gram-digital wallet, one that Telegram plans to offer to all of its 200+ million users around the world, according to three anonymous investors who spoke about the publication.

It is not entirely clear how regulators can deal with a new Telegram cryptocurrency, given that Telegram itself is a decentralized messaging service that was happily confused with governments in the past. Facebook & # 39; s Libra is the closest parallel, but one in the United States, and it has come across quite early.