the U.S. Supreme court ordered the Telegram to pay to 1,224 billion dollars buyers cryptocurrency Gram as a penalty for reneging on their commitments. The company will also pay 18.5 million dollars in civil damages. This is stated in the text of the relevant decision of the district court for the southern district of new York.
in addition, over the next three years, the Telegram will be obliged to notify the securities Commission of the US about its intention to produce any kind of cryptocurrency or similar tools 45 days prior to beginning participation in this activity.
According to the text of the judgment, both parties “agreed with the final decision, without admitting or denying guilt as charged (except jurisdiction), refused to establish the facts and conclusions as to their legitimacy and right to appeal (decision)”.
Recall that in early 2018 Telegram reported the development of a blockchain-platform Telegram Open Network (TON) c own cryptocurrency Gram. In early 2019, the company raised $ 1.7 billion from about 200 investors. But in October, the securities Commission and U.S. markets filed for Telegram and its affiliate, TON Issuer Inc in court as, in its opinion, the company has not registered the location of the cryptocurrency properly and therefore violated the securities act. The Commission demanded that the court not only acknowledged the fact of violations of the Telegram, but also to impose on her and her branch of the fine and recover the funds they had collected to the state. Subsequently, the Telegram suggested the investors to get back or 72 percent of the investment, or 110% 30 APR 2021. Investors from the United States, however, there is no choice – they can only claim 72 percent.
