Telegram has filed an order of consent agreeing to provide a trove of communications and documentation requested by the United States Securities and Substitution Commission on May 7.

The communications business organisation the distribution of Telegram'southward Gram (GRM) tokens and purchase agreements relating to its 2022 initial coin offering.

Telegram'south consent comes among the Costless Telegram Open Network community'due south conclusion to launch a version of the TON blockchain via a "fork."

The SEC halted Telegram's offering in October 2022 for conducting an unlicensed offering of securities. After half dozen months of proceedings, New York District Approximate P. Kevin Castel issued a preliminary injunction on March 24 this yr disallowment the house from launching TON.

U.Due south.-based investors are beingness refunded at a charge per unit of 72 cents on the dollar, while international participants tin take a 72% refund now or wait until April 2022 in exchange for a 110% refund.

Telegram consents to SEC discovery

Telegram has agreed to provide the SEC with "its communications regarding [...] any agreements offered or entered into with the Initial Purchasers" of its Gram tokens past May xx.

The firm volition provide additional bank records to the regulator and respond to questions concerning the financial statements that information technology has already submitted.

Information "regarding any assets disbursed to Initial Purchasers under the Purchase Agreements and assets received from Initial Purchasers in connection with the termination of the Buy Agreements" will also be provided.

Telegram has also agreed to the SEC's discovery requests from Feb and has agreed non to object on the basis of timeliness. However, the firm has reserved all other rights and objections.

"Free TON" community launches without Telegram

Telegram's consent order was filed on the aforementioned day that the "Gratuitous TON" community launched a version of the TON blockchain, in apparent disobedience of both the SEC and Telegram founder Pavel Durov. The Costless TON community has declared that "the initial creator TON (Telegram/The Open Network) blockchain, tin can longer be involved."