March 29, 2024

Telegram may delay the launch of cryptocurrency due to a ban on the sale of tokens in the USA

Telegram may delay the launch of cryptocurrency due to a ban on the sale of tokens in the USA

Telegram informed investors that the launch of TON may be delayed due to the order of the US Securities and Exchange Commission (SEC) to suspend the distribution of Gram tokens in the country.

According to the original plan, the launch of the cryptocurrency should take place before October 31, as after this date, investors will receive However, the SEC changed the situation, filing a lawsuit against the company on Friday for "distributing unregistered securities" last year, and obtaining a restraining order.

According to Bloomberg, after that, Telegram sent letters to investors informing about the possibility of postponing the launch date due to disagreements with the US regulator.

Representatives of the messenger claim that they are surprised by such a decision, since over the past 1.5  years they have been trying to contact the SEC and get approval for their crypto project.However, the lawsuit says that the Commission was forced to impose a ban because Telegram did not react in any way to the previously sent subpoena.

According to the SEC, a total of 2.9 billion Grams were sold and more than 1 billion tokens were bought by American investors, but since the initial offering was not registered,  the distribution of assets was illegal.

It is important for the telegram to carry out a full launch of the project until November in order to avoid problems.

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