The ICO project Telegram Open Network (TON), launched by Pavel Durov, will not allow certain individuals to participate in any of the initial offering stages, according to RBC.
The ban applies to individuals or residents of countries that have been sanctioned by the United States, Britain, the European Union and the UN Security Council. To maximize the effectiveness of the ban, participation in the ICO is also prohibited to all of the closest relatives of a person from the sanctions list.
The countries that fall under the ban include: the Crimea, Cuba, Iran, North Korea and Syria. All investors must necessarily pass the procedure of KYC, which serves to verify the identity of the user and counteract criminal activities. Also, depositors must present all necessary documents, such as a notarized passport, residence, etc.
The document, which RBC refers to and describes all of the above rules, states that any investor who purchases a TON token does not have the right to use it to circumvent sanctions or to promote terrorism.
“Any illegal use of the Gram cryptocurrency by unscrupulous participants may violate the normative acts adopted in the UK, the US and other countries aimed at combating the financing of terrorism and money laundering. This can seriously affect the global reputation of TON Blockchain”, the document says.
Be that as it may, it is still unknown whether the TON token itself will track suspicious transactions in its ecosystem or not.