Telegram investors have rejected proposals to continue their investment in TON ICO, despite SEC requests to delay the network launch
Telegram, which is an integral part of the crypto ecosystem because of its encrypted communication capabilities, has been involved in disputes with the US Securities and Exchange Commission, which claims that the planned Open Chain Telchain Network (TON); H. which means that ICO is actually illegal. Last week, the Commission issued a restraining order that prevented the company from launching TON as scheduled this month.
Investors in two separate ICOs were offered the opportunity to receive 77% of their initial investment. Instead, they decided to support the Telegram blockchain plan and agreed to extend the TON launch on 30 April 2020.
"We are pleased to announce that we have received approval from a large number of investors, both in advance sales and in Phase A, to expand the network launch to April 30, 2020. We would like to thank everyone for their support. Thanks to this extension, we can do the regulatory work described in our last e-mail, "said the e-mail sent by Telegram to a group of investors.
Telegram has begun raising capital to finance the blockchain project from two separate proposals that took place between January and March last year. The company reportedly achieved sales of 2.9 million grams and achieved a profit of $ 1.7 billion. One billion of these tokens goes to a group of 39 US investors, which means that around US $ 424 million of Telegram capital comes from the US, which is under SEC jurisdiction.
Today, a hearing must be held about whether Gram is a guarantee, but it has been canceled on February 19, 2020.