Investors of Telegram GRAM tokens agreed not to request reimbursement, scheduled for 2020.
Investors in the Telegram blockchain project have chosen to continue with the company despite the recent restrictive order of the US Securities and Exchange Commission against the offer of tokens from the messaging platform.
According to reports by Forbes Russia and Coindesk, the investor groups in the financing rounds of USD $ 850 million from Telegram decided to accept extensions for the launch of Telegram Open Network after the deadline of October 23. The offer to accept the extension was first sent to TON investors a week after the court order of the US Securities and Exchange Commission, SEC, on October 11, which emphatically stated that the Gram token It is a guarantee (security).
Agreement to wait
Under the terms of the agreement, most investors of the Initial Cryptocurrency Offer could decide between extending the date of issuance of the token or receiving 77% of their initial investment. Each cohort of investors also had to agree, which means that one group could have been reimbursed while the other kept the promise of Gram tokens. But both groups voted in favor of waiting and both refused reimbursement.
The token issuance is now scheduled for April 30, 2020.
An investor (under anonymity) expressed:
“We voted to wait, although we are sure that Telegram will not be able to clarify things with the SEC.”
According to this spokesperson, the token will be launched, but it will lose the battle with regulators and, as a result, it will lose huge markets such as the United States, Russia, China and possibly some European countries. However, as a first-round investor who bought GRAM at 37 cents each, he still hopes to make money from the investment.
A judicial hearing on GRAM that would take place today was postponed until February 18 and 19, 2020. Also, in a letter sent to investors on October 21, Telegram called the delay a positive development that will give it time to Prepare your case.
It should be noted that, like the Libra cryptocurrency on Facebook, Gram has received rejection from regulators, not only from the United States, but also from Russia.