On Friday, the Commission announced that the Court approved Telegram Group and TON Issuer’s proposed settlement.
In addition to the more than $1.2 billion to return to investors, Telegram Group and its subsidiary agreed to pay a civil penalty of $18.5 million.
Furthermore, the companies agreed to the entry of the final judgment prohibiting them from violating registration provisions of Sections 5(a) and 5(c) of the Securities Act of 1933.
Telegram Group and TON Issuer also agreed to give notice to the SEC staff over the next three years before participating in the issuance of any digital assets.
The companies settled without admitting or denying the SEC allegations.
Protecting and providing relief to investors from Telegram’s illegal offering
In a statement, SEC Enforcement Division’s Cyber Unit Chief Kristina Littman said, “New and innovative businesses are welcome to participate in our capital markets but they cannot do so in violation of the registration requirements of the federal securities laws.”
