Telegram responses to TON investors about SEC allegation
Telegram responses to TON investors about the recent allegation brought by the U.S. SEC about their token offers and sales. In a letter to investors, Telegram said they were actively interacting with the US SEC over the past 18 months. They are surprised and disappointed that the SEC chose to file the lawsuit.
According to the letter sent to the investors, Telegram said that “We are continuing to evaluate the best means by which to resolve the situation in the interests of relevant parties, including but not limited to assessing whether to seek to delay the launch date.”
On Friday, SEC filed an emergency action and obtained a temporary restraining order against Telegram Group Inc and its subsidiary ‘TON’ Issuer Inc. The allegations were that the group conducted an unregistered offering for Telegram’s TON tokens in the U.S. and overseas. The SEC alleges that Telegram sold the tokens to U.S. investors without registering their offer and sale as required by the U.S. securities laws.
[mks_pullquote align=’right’ width=’225′ size=’20’ bg_color=”#000000″ txt_color=”#FFFFFF”] Expect TON launch to be delayed[/mks_pullquote]Telegram Open Network was initially planned to go-live on Oct 31, 2019. Now due to SEC allegations, the team is currently focusing to get out of the situation and get clarity on the legal status of the TON project. Therefore, the launch date of TON is expected to push forward.
