TON Responds to Investors After SEC's Attack, Telegram Cryptocurrency Might Be Delayed

Libra Coin News
Sat, 10/12/2019 - 21:52
Denis Sinyavskiy
Telegram cryptocurrency TON may be delayed due to a lawsuit filed by SEC, a letter to investors said
Cover image via U.Today

Telegram Open Network (TON) developers finally responded to their investors after a lawsuit filed by SEC. In a letter to investors, which was shared with the U.Today editors, the Telegram Open Network clarifies the situation with SEC, as well as talk about possible solutions to the problem and even delaying the launch date of the TON cryptocurrency.

The letter said, that the developers have actively interacted with the US Securities and Exchange Commission over the past 18 months, as well as received feedback on the TON blockchain. However, the SEC decision openly surprised them, here are the words from the letter:

“We were surprised and disappointed that the SEC chose to file the lawsuit under these circumstances, and we disagree with the SEC's legal position.”

At the moment, cryptocurrency developers, together with consultants, are looking for the best way out of the situation. Here is what the letter says:

“We are continuing to evaluate the best means by which to resolve the situation in the interests of relevant parties, including but not limited to assessing whether to seek to delay the launch date.”

From the above words, it can be understood that the launch of the Telegram’ cryptocurrency planned for October can be delayed.

About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.