Japan-based Liquid Exchange has canceled the sale of Telegram’s Gram tokens and returned funds to customers as the messaging app company remains embroiled in an SEC lawsuit.
The exchange has said that it is acting in compliance with the investor agreement, which states that Telegram’s Open Network (TON) should have been launched by October 31, 2019; otherwise it must initiate the process of returning funds to investors. As a result of the longstanding lawsuit brought against the messaging app by the SEC, an injunction has been brought out to prevent the launch of TON indefinitely.
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