Telegram Dropped from Apple App Store Amid SEC Token Dispute

Telegram's Apple App Store listing has been removed worldwide, affecting users of the popular messaging app. This move comes as part of an ongoing lawsuit between Telegram and the US Securities and Exchange Commission (SEC) over the company's alleged failure to register its Gram token as a security.

The SEC had previously accused Telegram of raising $1.7 billion in 2018 for the development of the Gram token, which is set to be used on the Telegram platform. However, the company was required to register the offering with the SEC, which it failed to do.

As a result, Telegram's Apple App Store listing has been removed in over 100 countries, including those where users may have purchased or held Gram tokens. The move is seen as a significant blow to Telegram's plans for the token and its potential impact on the global cryptocurrency market.