Telegram will pay a fine of $ 18.5 million and return $ 1.2 billion to investors for the closure of the TON project

Telegram agreed to the terms of the final court decision on the charge of the US Securities and Exchange Commission (SEC) in the illegal conduct of the TON ICO.

According to the decree, within 30 days, the company will be obliged to pay the regulator several fines totaling $ 18.5 million, and over the next four years, return $ 1.19 billion in compensation to investors for terminating agreements. about buying tokens.

In addition, Telegram will also have to notify the SEC if it wants to release any blockchain-based digital asset in the next three years. The regulator will need to be warned at least 45 days before the scheduled issue date.

Telegram will pay a fine of $ 18.5 million and return $ 1.2 billion to investors for the closure of the TON project

On this occasion, in his Telegram channel, Pavel Durov expressed his regrets that the TON platform was never able to launch before the due date due to an injunction on the distribution of tokens. Having added that the court’s decision is fair and reasonable, therefore the company agrees with it and does not see the point in continuation of disputes.

Pavel Durov also said that Telegram has already returned more than $ 1.2 billion to investors directly or in the form of loans..

text: Ivan Malichenko, photo: lettera43

Telegram will pay a fine of $ 18.5 million and return $ 1.2 billion to investors for the closure of the TON project

Telegram Open Network returns $ 1.2 billion to investors

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