After the US stock exchange regulator prevented the scheduled launch of Telegram Open Network (TON), TON investors should now get their investment back. However, Americans have to accept cuts. In the meantime, Telegram is sticking to TON – however, the start of the Telegram blockchain will probably be postponed by at least one year.The blockchain platform of the messaging provider Telegram was originally supposed to be launched at the end of October 2019. At the same time, the date would have marked the first issue of Grams, the platform’s own cryptocurrency – if the U.S. Securities and Exchange Commission (SEC) hadn’t thwarted this. The reason: The US stock exchange regulator classifies Grams as securities (security), the issuance of which should have been notified to the authority.
The new Grams deal: 10 percent for a year of patience
Anticipating regulatory complications, Telegram had therefore offered investors the prospect of compensation if it was unable to deliver the tokens on time. This gave them the opportunity to get 72 percent of their investments reimbursed when the first SEC-related postponement of TON’s mainnet launch started. A majority of the donors had remained loyal to Telegram at the time and waited for the legal dispute to continue.