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Officially: TON blockchain is closed

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Officially: TON blockchain is closed
May 13
09:00 2020

Many crypto enthusiasts closely watched the situation around the TON project (Telegram Open Network), which belongs to a famous information businessman Pavel Durov.

Pavel Durov officially has announced the cessation of the development of the TON project. The decision was quite expected and tough, in a way. For a long time, the US authorities actively intervened in the future of the project. By a court decision, the issue of Gram tokens based on the TON platform was suspended. Lawkeepers felt that the process of issuing and selling a new type of cryptocurrency had to be carried out as an ICO.

The decision, although controversial, cannot be called unreasonable. Durov also said that the US authorities had issued an official ban on the sale of Gram cryptocurrency outside the United States. This decision was justified by the fact that if tokens were issued abroad, then the US residents would still be able to access them. But this decision looks strange, to put it mildly.

Pavel Durov spoke out on that quite sharply, comparing Gram tokens with coffee. The businessman drew an analogy that, using this logic, Washington could easily ban coffee houses in Italy, fearing that American tourists would take too much caffeine on a trip. Durov says that the decision of the United States means a lack of sovereignty in other countries and sufficient will to independently decide what suits their citizens and what does not.

Pavel Durov also spoke about the huge amount of advertising in the network. The founder of the Telegram messenger said that neither he nor his team had no bearing on the sites and projects that attracted investments in TON.

The trial was initiated by the SEC in the middle of last fall. The investigation forced Durov’s team repeatedly postpone the launch of the project. At the start of the trial, TON managed to raise about $ 1.7 billion in direct investment.


The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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