Despite SEC lawsuit, Telegram released test crypto wallet

by in Blockchain News

Telegram Open Network wallet

Telegram, a popular messenger which decided to turn a blockchain corporation, has issued a test version of a desktop crypto wallet for its “gram” token.

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From the official website users of Windows, Mac OS and Linux can download the wallet and get their keys on TON testnet. The wallet requirements are 24 seed words and a password for payments after filling these things your wallet will be ready to receive and send grams.

The app welcomes new users with a promise that now they will have a wallet which is controlled by a user directly, and there will be no need for bankers or middlemen.

Users can receive their first gram tokens from a special Telegram bot. You can get up to 20 grams.

TON is a prospective blockchain project by Telegram, which raised over $1.7 billion in a closed token sale during last year. It was planned to launch until October 31. The sign for a planned launch was a release of a validator node, block explorer and a full node in September.

In the beginning of October, TON declared the terms of use for the application and asked investors to share their public keys using TON’s key generator.

But the launch was delayed after Telegram was sued by the SEC, which asked the court to stop Telegram from delivering grams to investors and said that these tokens are unregistered securities. Telegram investors gave time to the project until April 31, 2020, for giving a resolution to the issue with the SEC.

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The meeting of the organisation and the SEC will take place in February 2020 in New York's court.