Telegram is considering a possible launch delay for its blockchain platform the Telegram Open Network due to the recent ban from the U.S. Securities and Exchange Commission (SEC), Russian media outlet The Bell reports citing a letter for investors.
"We were surprised and disappointed that the SEC in these circumstances chose to go to court, and we do not agree with its legal position," the letter said.
In addition to that, the letter said that the team is working hard to quickly solve this problem, and the TON developers "hope to provide new information over the next week."
The Bell claims Telegram is working with its advisers on the issue, and the company is considering the possible postponement of the project launch date.
The TON blockchain platform, according to the initial plan, was supposed to be launched by the end of October. Otherwise, investors who invested $1.7 billion would get their investments back.
Earlier iHodl reported that the Telegram Open Network platform (TON), a blockchain network developed by Telegram, finally revealed its Terms of Service, according to which, the TON network developers have full authority to close, terminate or disable any or all of the Services, user account, or access to the Services "at any time and for any reason."
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