Liquid terminated the contracts for the purchase of Gram tokens from the Telegram messenger

The Liquid cryptocurrency exchange has terminated all contracts for the purchase of Gram tokens and plans to return the moneyinvestors who pre-ordered Gram coins on the site.

Representatives of the platform said that under the conditionsthey are required to complete a refund if the Telegram Open Network (TON) blockchain is not launched by November 30, 2019. In the near future, Liquid will send an email to cryptocurrency buyers with information on how to get the money invested.

The ICO Gram documentation stated thatproject managers will return money to investors if TON does not work until October 31, 2019. However, the launch of the network was delayed due to a lawsuit against the Telegram Group and TON Issuer, initiated by the US Securities and Exchange Commission (SEC). The US agency accuses employees of enterprises of illegal trading in securities.

On October 24, Telegram experts reported thatmost investors agreed to wait until the blockchain is launched until April 31, 2020. Therefore, the messenger did not have to return the money received during the ICO. The District Court of New York demanded that Telegram provide a financial report by February 26, 2020. From anonymous sources it became known that the company representatives began to cooperate with the SEC, in connection with this, the likelihood of a favorable outcome for Telegram increases.