If the deadline is not met, Telegram will have to return its 1.7 billion to investors. Regulators on alert Since Facebook announced it was launching its own cryptocurrency, Libra, the platform has been in the crosshairs of regulators. In the United States , the US Treasury has expressed concern about how cryptocurrency could be used for terrorist financing and money laundering, and the Federal Reserve has set up a task force to monitor the project in coordination with other central banks around the world.
At a US Senate hearing of a Libra official, Senate gambling data israel Banking Committee member Sherrod Brown said: "Facebook has proven with scandal after scandal that it doesn't deserve our trust. We'd be crazy to give them a chance to let them touch people's bank accounts. " In Europe, the Libra project is the subject of an antitrust investigation . At the G7 , finance ministers and central bank governors agreed to "act quickly" against "systemic" risks. The particularity of Gram The idea behind Telegram is to enable money transfers around the world and to provide its 200 to 300 million users with electronic wallets.
Like Bitcoin, Gram should be based on a decentralized structure and would therefore not be controlled by Telegram. Its price would not be backed by another currency and would therefore follow the law (and speculations) of the market. A report from the Russian financial agency Aton published in May revealed a lot of information about the TON blockchain on which Telegram will rely but also about the supply of GRAM, which would be at launch about 5 billion tokens . If the forecasts concerning the inflation rate at 2% are correct, the total supply of GRAM should reach 10 billion in 35 years .
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