Iran Criminalizes Use Of Telegram’s Gram Cryptocurrency

News, Regulation | January 2, 2019 By:

The government of Iran has criminalized the use of Gram, the native cryptocurrency of instant messaging app Telegram.

Launched in 2013, Telegram is an encrypted, cloud-based instant messaging service with over 200 million active users. The company raised almost $2 billion in two rounds of private funding last year to build its own blockchain network called the Telegram Open Network (TON) with tokens built-in to enable much faster transaction speeds than rival blockchain networks.