Telegram releases a testnet wallet for GRAM tokens despite SEC troubles
Telegram has released the first version of its Telegram Open Network (TON) wallet allowing users to generate key pairs and send and receive testnet $GRAM tokens. The release comes just weeks after the U.S. Securities and Exchange Commission (SEC) obtained an emergency order to prevent Telegram from distributing tokens to U.S. investors.
Why it matters:
- While only a testnet the release of a wallet would allow users to receive tokens when the mainnet goes live. The SEC order does not prevent Telegram from working on its testnet but it will be interesting to see how the regulator responds to this development when the two meet in court on Feb. 18, 2020.
- Investors had expected to receive their tokens by Oct. 31. This release marks the first time investors can interact with the software (outside of running a node) and could boost confidence as the wait for mainnet moves into early 2020.
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