Telegram agrees to settle with SEC over $1.7 billion ‘unlawful’ digital coins

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The world’s top social messaging app, Telegram has agreed to settle with the U.S. Securities and Exchange Commission (SEC) amounting to $18.5 million over its $1.7 billion “unlawful” token sale.

As part of the agreement, Telegram must also inform the SEC should it choose to issue another digital coin within the next three years. 

 The settlement between Telegram and the U.S. SEC effectively ends the months-long legal battle between the two parties, which began when the SEC sued Telegram back in Oct. 2019  

 Telegram now has “30 days to pay SEC’s penalty and up to four years to pay back investors.” 

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