The popular messaging app Telegram wants to make cryptocurrency
The world’s largest ever cryptocurrency fundraising effort has been put on hold after the popular messaging app Telegram scrapped plans to broaden its initial coin offering (ICO).
The reason for shutting down the public ICO — the process of selling units of a cryptocurrency ahead of its launch — is unclear, though it may be a result of increasingly tight regulations in the space.
Citing sourced familiar with the matter, The Wall Street Journal reported that the current regulatory environment meant the company would be open to scrutiny from organisations like the Securities and Exchange Commission (SEC).
The reason for shutting down the public ICO — the process of selling units of a cryptocurrency ahead of its launch — is unclear, though it may be a result of increasingly tight regulations in the space.
Citing sourced familiar with the matter, The Wall Street Journal reported that the current regulatory environment meant the company would be open to scrutiny from organisations like the Securities and Exchange Commission (SEC).
