Telegram messaging service is coming to an end with an $18.5 million civil penalty along with a $1.2 billion return to investors for paying for its TON digital token.
“We look forward to continuing to pursue our other projects and avenues for innovation,” he added, “and we hope the regulatory environment for blockchain technology in the US becomes more favorable for others in the future,” said Telegram's CEO Pavel Durov.
The regulator has alleged Telegram for not abiding the rules. If Telegram had collaborated with the regulator, the situation might have been different, said the SEC.
Telegram may have dissolved TON and come to terms with the settlement but with external contributors, various organizations like the NewTON and FreeTON aim to revive the network in the upcoming days.