Liquid exchange canceled the sale of Telegram tokens and returned money to investors

Japanese cryptocurrency exchange Liquid canceled the sale of Gram tokens due to a delay in their issuance related to the lawsuit between Telegram and SEC.

In July 2019, the exchange began selling rights tonot yet issued tokens received from one of the largest TON investors. The issue of cryptocurrency could not take place before the launch of the blockchain project, which was supposed to take place until November last year.

However, in October, the US Securities and Exchange Commission announced that Telegram illegally sold unregistered securities and banned distribution of tokens in the country. Because of this, the company agreed with investors to postpone the launch of the project until the end of spring.

Since one of the conditions of the agreement Liquid wastransfer of Gram to investors immediately after the issue on October 30, the exchange was forced to cancel sales and return in full the funds received on escrow.

text: Ivan Malichenko, photo: shtrafsud