Pavel Durov agreed on a world c SEC

The six-month legal battle between Telegram and the US Securities and Exchange Commission (SEC) ended in favorregulator.

The court put an end to the struggle of Telegram andSEC for the right to issue a Gram token. By the court’s decision, the Telegram Open Network blockchain project will not be launched, and the funds raised for its development and the release of Gram are to be returned to investors. The messenger is fined for violating the US securities laws when distributing Gram tokens in the amount of $ 18.5 million, which is payable within a month.

In addition, Pavel Durov is forced to signan agreement with the commission obliging him to notify the regulator 45 days in advance of his plans to issue a digital currency over the next three years. This means that Durov reserves the right to launch a new cryptocurrency project, but this time he is obliged to warn the authorities about it in advance. 

Pavel Durov commented on the court decision in his Telegram channel, expressing regret over the failed blockchain project and the strict regulatory environment for blockchain technology in the United States. 

Earlier Pavel Durov said that Telegram will not beCollaborate with any companies to launch TON technology. Recall that recently the developers and network validators launched their own Free TON blockchain. Apparently, Durov supports such an initiative.

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