Telegram will pay a fine of $ 18.5 million and return investors $ 1.2 billion for the closure of the TON project

Telegram agreed to the terms of the court's final decision on charges of the U.S. Securities and Exchange Commission (SEC) for illegally conducting an ICO TON.

According to the resolution, within 30 daysthe company will be required to pay the regulator several fines totaling $18.5 million, and over the next four years return $1.19 billion in compensation to investors for terminating agreements to purchase tokens.

In addition, Telegram will also have to notify the SEC if it wants to issue any blockchain-based digital asset in the next three years. Warnthe regulator will need to be cleared 45 days before the scheduled release date.

On this occasion, in his Telegram channel PavelDurov expressed his regrets that the TON platform could not be launched before the scheduled date due to a court ban on the distribution of tokens. Adding that the court's decision is fair and reasonable, therefore the company agrees with it and does not see any point in continuing the disputes.

Pavel Durov also said that Telegram has already returned to investors more than $ 1.2 billion directly or in the form of loans.

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