Pavel Durov made a statement about the ban on cryptocurrency Gram

After the SEC temporarily blocked the release of the Gram cryptocurrency through a court, the team of Pavel Durov commented on the situation in a letter to investors quoted by The Bell.

According to the creators of the project, over the past 18 months, Telegram has been trying to establish contacts with representatives of the US Securities and Exchange Commission (SEC) and hear the opinion of its specialists on the TON project.

“We were surprised and disappointed that the SEC in these circumstances chose to go to court, and we do not agree with its legal position”- the letter says.

The authors note:

“Together with its advisers, the company is analyzing options for overcoming the current situation, including the possible postponement of the project launch date.”

The TON blockchain platform was supposed to earn by October 31, 2019 - otherwise, investors who invested $ 1.7 billion in the project should have received their money back.

“We are working hard to quickly solve this problem, and hope to provide new information over the next week”, - representatives of Telegram reported

Recall that on October 11, the Commission on valuableThe U.S. Securities and Exchange Commission has secured a temporary suspension of the initial placement of Gram tokens in the country by Telegram and its subsidiary TON Issuer. The Office believes that operations with the Gram cryptocurrency were conducted without the necessary registration, in violation of the Securities Act of 1933.