The launch of the blockon TON Telegram would be postponed to April 30, 2020. The company wants first to focus on his defense following its legal setbacks with the US stock exchange.
In early September, Telegram unveiled the source code of its TON blockchain. At the same time, a test network had been deployed, as well as an explorer and various implementation tutorials. At that time, Telegram announced a release date scheduled for October 31, 2019. But this weekend, the Securities and Exchange Commission (SEC) got involved and started a lawsuit against Telegram.
Actually, a few days ago, the Securities and Exchange Commission suspended the ICO organized by Telegram. According to the SEC, the platform did not have the required permissions to conduct cryptocurrency fundraising on US soil.
The federal government also accuses Telegram of not having played the transparency card to investors by concealing crucial information about its Blockchain TON.
“We intended to launch the TON network at the end of October. However, the recent SEC lawsuit made this delay impossible. We propose to extend the deadline to allow more time to resolve the dispute with the SEC and to collaborate with other government authorities prior to the launch of the TON network, “wrote Telegram.
Investors have until September 23, 2019 to make their decision. On the 24th, the firm will defend its project before several regulators in New York. In addition, it plans to invest an additional $ 80 million by April 30.