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Investors told about plans to postpone the launch of Durov`s cryptocurrency for at least six months
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The launch of the TON platform could be postponed from six months to a year, two investors told Forbes. One of them says that in the inner circle of the founder of Telegram Pavel Durov, a possible postponement of the launch of the platform for six months or a year is being discussed. "Durov's team is confident that during this time it will be able to resolve all controversial issues with the SEC," — said the source of Forbes. The second investor confirmed that Durov's representatives are discussing the postponement with investors.
The final decision will be made after a court hearing on October 24, at which a statement by the US Securities and Exchange Commission (SEC) will be considered: the SEC demands that the Gram cryptocurrency be recognized as securities. Until that moment, Telegram representatives will not make any statements or provide any additional information to investors, a source close to Durov's team told Forbes.
On Friday, October 11, the SEC secured a temporary injunction against Telegram Group Inc. and TON Issuer Inc. for further sale of Gram in the USA. The SEC claims that Gram is a security, not a currency that is going to be sold to a large number of investors. Such a sale requires a disclosure that Telegram has not done.
“We have repeatedly stated that issuers cannot circumvent federal securities laws by simply labeling their product with a cryptocurrency or digital token,” said Stephen Peikin, co-director of the SEC's enforcement department. "Telegram seeks to benefit from the public offering without complying with long-established disclosure obligations to protect the investing public."
As Forbes previously wrote, if the court decides in favor of the SEC, theoretically Durov can return the money to American investors and put TON into operation.
TON is being investigated by Daphne A. Waxman, Morgan B. Ward Doran, and John O. Enright of the SEC Cyber Unit. It was these investigators who were leading the case of another cryptocurrency, EOS.
In this case, on October 1, the SEC fined the EOS project $ 24 million for an unregistered ICO. During the initial token offering, the development company Block. one raised a record $ 4.1 billion. The SEC was fined less than 1% of that amount, and Block. one agreed to pay it without admitting guilt. 15 businessmen who changed the idea of Russia. Forbes DEFAULT NODE rating 15 businessmen who changed the perception of Russia. Forbes Rating Russian business is going through difficult times. Politics and sanctions not only impede access to international financial markets and break partnerships with foreign companies, but also hurt the personal business reputation of entrepreneurs. Meanwhile, not all of the Forbes list members, who were en masse included in the "Kremlin report" of the US Treasury Department, share the responsibility for aggravating Russia's relations with the West. Many businessmen, on the contrary, personify the country's hope for a return to the global agenda not as an "evil empire", but as a developing power, ready to compete on equal terms in the most advanced areas. In honor of the 15th anniversary of the Russian Forbes, we have compiled a rating of 15 entrepreneurs breaking stereotypes and changing the perception of Russia. All the participants in the rating built their business from scratch and either achieved success on a global scale or had a serious impact on the lives of Russians.
Special project for the 15th anniversary of Forbes in Russia: the best articles, unknown stories about billionaires, tests
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