Telegram, a cloud-based encrypted instant messaging service, has recently been the subject of much regulatory and investor scrutiny for its $1.7 billion unregistered token sale.
To help clarify the information surrounding the TON blockchain and its native Gram Token (TON), Telegram recently published a blog post in a simplified FAQ format. In the post, Telegram confirms that it plans to have no control over the TON blockchain, as part of an effort to further promote the idea that it is a decentralized platform, fueled by a decentralized currency that does not qualify as a security. This, of course, is in response to the recent lawsuit from the SEC, which forced Telegram to halt the ongoing Gram sale.
In order to further drive home its regulatory position, Telegram states that investors in the Gram cryptocurrency should not expect any sort of profit from holding the token.
“You should NOT expect any profits based on your purchase or holding of Grams, and Telegram makes no promises that you will make any profits,” states Telegram in its post. “Grams are intended to act as a medium of exchange between users in the TON ecosystem. Grams are NOT investment products and there should be NO expectation of future profit or gain from the purchase, sale or holding of Grams.”
Telegram also clarified that it has no plans to integrate its TON wallet into the main Telegram app, and will only do so if they deem it a viable path based on regulatory guidance.
Taken together, it’s clear that Telegram is working overtime to cover its bases while throttling back plans to integrate a native cryptocurrency into its current platform.
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.