Telegram will delay launch of TON blockchain in light of SEC pressure

According to documents obtained by CoinDesk Telegram will delay the launch of its network to April 30, 2020. Originally planned to launch later this month, the Telegram Open Network (TON) mainnet would have distributed tokens to investors in earlier fundraising rounds, Earlier this week the SEC sued Telegram in order to prevent the distribution of tokens to U.S. investors in what the SEC called an "unlawful" sale of digital tokens. According to the documents Telegram told investors:

“We had intended to launch the TON network in late October. However, the recent SEC lawsuit has made that timing unachievable. We disagree with the SEC’s legal position and intend to vigorously defend the lawsuit. We are proposing to extend the deadline date in order to provide additional time to resolve the SEC’s lawsuit and work with other governmental authorities in advance of the launch of the TON network.”