Telegram receives support from TON community in battle with SEC

Crypto enthusiasts have united in a human rights group to support Telegram in its legal battle againstUnited States Securities Commission (SEC).

The foundation was formed as “a professional community of active participants in the TON project, whose goal is the early launch of the Telegram Open Network.” 

The TON community is led by a managercommunications TON Labs Fedor Skuratov. The Fund was also joined by the manufacturers of crypto wallets Atomic Wallet, Button Wallet, representatives of the TON network from France, China and Spain and various brokerage companies. 

The non-profit TON Community Foundation has already submittedan application to protect Telegram in court by issuing its Amicus curiae. The document rejects the SEC's claims against the TON blockchain and describes the decentralized structure and open source code of the platform, which do not allow interference with the operation of the network. Telegram plans to distance itself from the platform after its launch, as well as from the TONWallet, which will become a standalone product on the market. Let us remember that Telegram previously planned to integrate the TON wallet directly into the messenger.

According to the Foundation, Gram tokens cannot bequalify as securities. The issued coins are planned to be transferred to the TON Community Foundation, which eliminates the possibility of speculation and receiving dividends from the launch of the platform. The Foundation's Board of Governors will not directly manage the platform, but will coordinate developers, investors, nodes and other community members to help develop the TON blockchain.