The project named TON (for Telegram Open Network) is a blockchain platform of instant messaging, offering a list of different cryptocurrencies like Gram (based on TON's blockchain) and many other services like anonymity. Developed by the famous application of private message Telegram, who manage to raise $1.7 billion in 2018 to allow this development. 

Even if the project looks enticing it appears to be experiencing some issues. Indeed despite good ideas and a huge budget the project seems to be at a standstill due in part to the Security & Exchange Commission (SEC), who basically suspended it. Let me drive you through this endless story of TON, Telegram's cryptocurrency project.

1. So why the SEC wish to stop the project TON :

First, let's go back in 2018, during this year Telegram managed to realize a fund-raiser of $1.7 billion thanks to big investors. This is where the SEC operates, after several investigations they decided to suspend the emission of the token Gram until further notice, because they suspected Gram to be illegal issuances of securities. 

Despite this decision Telegram decided to appeal in March 2020 and were still determined to launch their blockchain what ever it takes. They even started partnerships with Apple Store and Google Play, they also started several applications and new services. Despite the disagreement of the SEC, TON seemed to move forward assuring it was open-source and decentralized, was planning to add other cryptocurrencies than the Gram token.

2. And what went wrong ? :

Indeed TON was on the right track to be finally released, also relying on Telegram's actual message service which includes more than 400 millions users. But the problem around the Gram token returned to the charge, altho on the 29 of April everything seemed to be fine, on the 30 of April it became seriously complicated. 

The SEC decided that the sanction is to postpone the official launch of the project in 2021, this all process started in late 2019 and the SEC demonstrated that the Gram token was violating the American law concerning issuances of securities. As a result, the release of the project will be on the 30 of April 2021, it will allow Telegram to reposition on their project but raises some questions for the future.

3. What can we expect from TON in the future : 

First concerning the investors, Telegram stated that they are ready to restitute 72% of the investment from every investors who want to withdraw from the project. However they have also decided to offer a bonus to the investors who want to keep their position in the project, they will be able to receive 110% of the initial investment after 30 of April 2021, so a 53% difference from the investors who decide to withdraw now. 

Moreover a first version of a website (ton.org) was also born recently, a community foundation was create few days ago by some promoters and investors. TON realized few tests since the beginning of the project and recently the community made a testnet allowing to detect some issues and advantages. 

Now, after this decision what can we imagine for TON in a long term future, well despite the judicial problems Telegram showed that TON's development is still in progress. The ideas and the services which gravitate around TON are really interesting and promising, they have potential, a huge community ready to support the project and a big budget. 

All in all the project has experienced a slowdown due to the recent decisions but the global idea and the potential are here, everything seems to be possible for that project, we will see what the future holds for them.