Telegram has decided to withdraw the appeal against the court order that banned the distribution of Gram tokens in relation to the legal battle between the US Securities and Exchange Commission (SEC) and the company, according to court documents which show both parties have agreed on the decision.
The appeal has been withdrawn through a standard form based on Rule 42.1: "leave without consideration." No further information has been revealed.
The appeal was filed back in March after a court upheld the SEC's decision to prevent Telegram from distributing its Gram tokens to US investors. The court later prohibited the distribution of Gram tokens to non-US investors, which made Pavel Durov announce the total closure of the project.
It has recently been known TON investors could sue Telegram and Pavel Durov because they have not received all the funds they initially invested in the project.
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