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About the conflict between the Telegram and the American regulator SEC

FXcoins - About the conflict between the Telegram and the American regulator SEC

Now between the most large-scale American regulator SEC there is a global conflict, which is monitored by the entire world community. Everyone says that TON (the largest project in the crypto industry) has serious problems.


The U.S. Securities and Exchange Commission filed a lawsuit against companies that conducted the Telegram Open Network token sale - this was announced on Sunday, October 13. Around the same time, the SEC accused TON developers of illegally distributing unregistered digital tokens in America and abroad. Durov did not agree with the accusation, which is why he filed a lawsuit, indicating that Gram tokens are not a security.


The scandal began to develop further. The partners and investors of the project received a special letter to the Telegram, which stated the following - “in order to get additional time to resolve the SEC lawsuit and work with other government bodies to resolve any problems that may arise before the launch of the network, we suggest extending the deadline from 31 October 2019 to April 30, 2020. ”


Since investors are the only source of capital, they were given time to vote, the end of which will be held on October 23, 2019, at 19:00 Moscow time. If investors agree that the manipulation of tokens is not rational, the contract of sale will be terminated on October 31, 2019. Termination of the contract will hit the wallets of investors, but they will receive 77% of the initial amount back. If investors prefer the extension of the project, TON developers will additionally need USD 80 million - all the funds will go to the further development of the blockchain platform.


Valery Petrov, who is vice president of RACIB, said that the likelihood of extending the project is high, pointing to three main reasons - “firstly, the results that have already been presented by the project team say that it is quite promising from the point of view of making money On him. Secondly, the delay does not occur due to the fault of the developers, but due to force majeure circumstances, which, however, are not insurmountable. Finally, thirdly, the invested amounts are unlikely to be critical for investors. Since the project is venture, it can be assumed that the investors were aware and laid down the possible risks. ”


Petrov himself believes that the US government influenced the conflict, because the development of cryptocurrencies damages the already weakening dollar. Valery believes that Pavel Durov has nothing to worry about, because a high level of trust is confirmed by many successful projects that have been operating on the market for a long time.


Nikita Zuborev, who is a senior analyst at BestChange.ru, said - “We assume that the platform will be launched at any outcome. If you believe the developers, then most of the technical side is ready ... If we talk about finding new investors, TON will probably not have significant problems. They still have other options for raising money. In an extreme case, they can at any time raise funds from private unskilled investors from all over the world. Another question is that Durov is still trying his best to avoid this fallback. ”


This suggests that even if investors demand all 1.3 billion USD back, TON will continue to exist. Despite the radical position of SEC, TON employees intend to defend the project.

22 October 2019

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