Telegram is again in the center of scandals
A well-known messenger recently does not disappear from scandalous, noisy headers. Launching their own cryptocurrency platform turned out to be much more difficult for Pavel Durov than it seemed initially. First there were problems with United States law. Against the backdrop of litigation, many investors refused the project. After that, with great conventions, the company still launched its own decentralized platform. But the problems did not end there. Today, the SEC, that is, the US Securities Commission, has ordered Telegram to pay a fine of $ 18.5 million. We will tell you what is the cause of the next problems. So let’s get started.
What is the reason and how does Telegram suffer losses?
The roots of the difficulties are the same. SEC still does not agree to accept TON as a cryptocurrency, forcing the company to pay the money promised to investors. At the same time, the prosecution is not at all interested in where Telegram will get the money from, if TON started working on a much worse scheme than expected. Nevertheless, it seems that an agreement has already been reached. According to open sources, on June 11, 2020, the SEC decided that Telegram could still issue digital coins, but only subject to a detailed description of further actions. The company is obliged to draw up a detailed scheme of work, describe all the subtleties of interaction with Blockchain, and provide such reports for three years. However, you should not think that everything ended for Telegram so well and simply.
The firm is still obligated to return the invested money to American investors. SEC decided to pay only for local investments, Asian and European investors should deal with Pavel Durov on their own. As for American investors, they owe Telegram as much as 1.19 billion dollars. 4 years are allotted for the payment of debts, after which Telegram is obliged to settle accounts with every dissatisfied investor. Note that the SEC itself did not neglect the opportunity to receive compensation from Pavel Durov. The company received 30 days that are already being spent on paying fines to the US government.
What will the project do?
Obviously, now is not the easiest time for Telegram. The constant rescheduling of the project, obviously, led to a loss of investor confidence. The company can no longer promise the highest returns and hope for instant payments. Nevertheless, the company still remained the main source of income – their wonderful messenger, which is actively used and in which they are still investing. The company was able to go through difficult times of federal blockages. But this did not break the company, because, recall, earlier Telegram, in principle, was equated with a terrorist instrument and was prohibited in the territory of such states as the Russian Federation. However, as we see, the enterprise is still operating. So we are sure that Pavel Durov will pay off his debts, find a compromise with the authorities and take a fresh look at his own project.