Telegram terminates trial with SEC on TON project

Telegram has withdrawn its appeal of a previous court decision upholding the SEC's gag order.Gram tokens to investors both in the USA and in other countries.

Telegram officially stopped fighting with the US Securities and Exchange Commission (SEC) and withdrew the appeal it had filed earlier with a court decision regarding a ban on the distribution of Gram tokens.

A new court document says that“The parties in the above case withdraw the appeal in accordance with rule 42.1.” This means that the parties agreed to terminate the trial with the possibility of resuming it in the future.

Recall that on May 12, the founder of Telegram PavelDurov announced the termination of work on the Telegram Open Network (TON) due to the ongoing lawsuit with the SEC. Earlier, Telegram said it would not return TON investors funds in Gram tokens or other crypto assets due to regulatory problems, and American investors will receive up to 72% of investments in the near future.

According to CoinDesk, some investors have already received a refund, but other ICO TON participants are unhappy with the situation and are considering filing a lawsuit against Telegram.

Despite the closure of the TON project, earlier this monthan independent group of developers, validators and users of Free TON Community launched the Free TON blockchain based on Telegram developments, but without the participation of the company.

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