Telegram's TON Board Takes a Break, Removes All History From Channel

Following a recent red flag from the U.S. regulators, a private Telegram channel for Telegram Open Network is taking a break.

On Oct. 12, TON Board channel on Telegram announced a temporary halt of work due to the increased level of regulatory uncertainty.

TON Board has also deleted all previous posts on its Telegram channel, making the latest announcement the sole post on the channel at press time.

As noted in the channel description, TON Board is a private channel created by investors and for investors in the TON as well as for future major holders of Grams.

The channel has around 2,400 subscribers at press time.

In the announcement, TON Board stated that it is taking a break to analyze new information and adapt policies.

The channel noted that they are planning to come back as soon as they have more clarity on the legal status of the TON and Gram, as well as an allowed type of analysis that may be published about them.

The move comes after the United States Securities and Exchange Commission abruptly announced that Telegram's $1.7 billion Gram token sale in 2018 was illegal.

On Oct. 11, the regulator filed an emergency action and restraining order against Telegram and the TON in order to prevent the initial investors from being able to acquire Grams.

The regulatory announcement took place just weeks before the much-anticipated TON launch in late October, as officially planned by the firm.