SEC Refused to Comment on Telegram Lawsuit

The US Securities and Exchange Commission (SEC) will not comment on the lawsuit against the Telegram Group while the case is pending – the press service of the department reported on October 15.

“The lawsuit was filed with the court of the Southern District of New York, and while the case is in court, we can`t comment,” – an employee of the Commission said.

Last Friday, the US Securities and Exchange Commission filed a lawsuit in New York to suspend the ICO in connection with the alleged unregistered placement of the Telegram Group and its blockchain platform Telegram Open Network (TON) Gram tokens. The commission said, companies sold about 2.9 billion digital tokens to 171 customers worldwide, including over 1 billion tokens to 39 US residents.

Durov`s team has not given a clear answer concerning its actions after the SEC decision so far. The letter to the creators of the project says that they analyze all possible options together with the consultants, “based on the interests of all parties”. One of the options is delaying the launch of the project. TON developers promise to provide more information this week.

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