The launch of the Telegram Open Network (TON) is planned to be postponed until April 30, 2020.

The launch of the Telegram Open Network (TON) is planned to be postponed until April 30, 2020.

This is due to the lawsuit of the US Securities and Exchange Commission, – reports TASS (https://tass.ru/ekonomika/7011577). With reference to a letter to investors, which is available to the news agency and whose authenticity was confirmed by a source close to the project investors.

“Because of the latest regulatory changes, we are asking you and all other customers to extend the deadline for launching the TON network until April 30, 2020,” the letter said.

“We do not agree with the SEC legal position and intend to defend our position. We suggest extending the deadline to provide additional time to resolve the SEC lawsuit and work with other government agencies before the launch of the TON network,” the letter said.

At the same time, the project team asks investors to agree to an extension to sign an additional agreement. If the required number of investors does not agree with the extension of time for launching the project, then the purchase and sale agreement will be terminated on October 31, 2019.

“We expect that you will receive a termination amount under your contract of approximately 77% of the purchase amount. If the platform’s launch deadline is extended, we expect that the costs will be approximately $ 80 million until April 30, 2020,” the team explains .

On October 12, the US Securities and Exchange Commission filed a lawsuit to suspend the Telegram instant messenger ICO. After that, the TON team informed investors that they were considering the possibility of postponing the launch of the platform. A SEC lawsuit filed in a Manhattan court related to the alleged unregistered placement of Telegram Group Inc and its TON blockchain platform, Gram digital tokens. According to SEC, companies have sold about 2.9 billion digital tokens to 171 customers worldwide. Including over 1 billion tokens to 39 US residents.

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