Although the launch of the main Telegram Open Network (TON) network under discussion by Pavel Durov’s team is feasible, it carries great risks for the company. This was stated by ForkLog, a licensed New York State lawyer and head of international litigation practice at Buzko Legal, Evgeny Krasnov.
According to him, from a technical point of view, launching the platform before April 30 is quite feasible, but it will definitely violate the law:
“The prohibition of the court of first instance is as follows: Telegram“ is previously prohibited from delivering Gram to any physical and legal persons or to take any other measures to carry out unregistered placement or sale of Gram ”.
The court confirmed that this ban applies to all foreign investors:
“The security in this case is not an agreement with the investor and not Gram itself, but the entire Gram issuance scheme, which directly affects American investors and the US market,” Krasnov explained.
Earlier it was suggested that the name of the platform or cryptocurrency could be changed. However, this will not remove responsibility from Durov, the lawyer claims:
“I’m pretty sure that changing the name will not change anything in essence. In my opinion, a direct and deliberate violation of the injunction carries great risks for Telegram, and I will be very surprised if the company goes for it. "
Telegram’s appeal against the court’s decision banning the distribution of Gram cryptocurrency will not be considered until the end of May, but the company has few reasons for optimism, Krasnov
If the platform is not launched before April 30, Durov will have to return the money to investors.
If the conflict in the SEC prevents the Telegram team from launching the platform, key PoS validators, including TON Labs and P2P.org, are ready to implement this task.