The launch of the Telegram cryptocurrency is postponed until February 2020.

The Southern District of New York court, which is now in charge of the SEC case against Telegram, postponed the hearing to February2020 year.

The trial of Durov is postponed to next year

Previously, the court scheduled a hearing in the current case forOctober 24, but the latest order speaks of other dates: the first meeting should take place only on February 18 next year. In other words, we will have to wait a full four months before the problem with American regulators begins to be resolved.

The court order also states that up to this time Telegram has no right to distribute Gram tokens in any way, including giving them to legitimate investors.

Let's remember what this whole story is about:The US Securities and Exchange Commission suddenly decided that Durov had illegally sold securities under the guise of cryptocurrency and ran to court. There she was joyfully supported, forbidding Durov to even look at the Grams until the issue was resolved.

Durov himself believes that the SEC was simply insolent, and heractions are illegal. Telegram not only unsuccessfully tried to establish contact with the regulator for more than a year, but also independently brought the project under full compliance with the laws.

The future of Telegram cryptocurrency is in question

Despite all this, even the SEC is afraid to goDurov. Earlier, he proposed his solution to the problem: Telegram postpones the release of Gram for five months, and to investors who do not agree with this decision, it returns about 70% of the invested funds. The commission rejected this proposal, the court sided with the regulator. Now, Durov will have to wait four months for the trial to begin trite.

Most of all in this situation it seems strangethe moment the SEC decided to intervene. The regulator sounded the alarm just a couple of weeks before the scheduled launch, although before that he did not care about the project for more than a year. Two theories arise here: either the Commission once again confirms its reputation as a thoughtless sadistic machine, or this whole situation has been played out from the very beginning.

We, ordinary users, now have onlyto wait. Now that Libra and Ton are being postponed indefinitely, you should focus on something closer to the industry. Hopefully, SEC’s thoughtless policies will not do too much damage to the market.

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