29 Mar 2024
Saturday 17 March 2018 - 13:44
Story Code : 298076

Telegram bars Iranians from buying Gram cryptocurrency over sanctions

MNA People who are on the sanctions list of the US, UK, European Union or United Nations, including Iran, will not be allowed to take part in Telegram Open Network initial coin offerings (ICOs) and will be forbidden from buying Gram cryptocurrency by the official Telegram group investor agreement, Russian news agency RBC reports.


The ban onparticipating inthe ICO extends toclose relatives ofsanctioned people, including their spouses, children and siblings.

In addition, the ban extends toall people living insanctioned territories. The document points outthat such territories are now the following: the Crimean Peninsula, Cuba, Iran, the Democratic People's' Republic ofKorea and Syria.

The existence ofthe group investor agreement has been confirmed byat least two people: an unnamedRussian businessman aswell asone ofthe venture's fund top managers, both ofwhom are considering taking part inthe project, reports PolitNavigator.net.

In early January, TechCrunch reported Telegram's plans tolaunch its own blockchain: the Telegram Open Network (TON) platform and Gram, its homegrown cryptocurrency.

As Sputnik reported earlier, the company is seeking toraise $1.2 billion tobuild a virtual economy withinthe Telegram app and create its own blockchain-based payment platform that will offer participating businesses full access toits large audience viaan advertising exchange and virtual storefronts where customers will pay inGrams.

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