ICO Telegram Unavailable to EU and US Sanctions List

It was reported that ICO Telegram is not available for those included on the sanctions lists of the United States, EU, and the UN Security Council. This restriction is contained in the contract, signed by Telegram Group Inc with Gram tokens’ investors. It also states that the closest relatives of persons subject to sanctions cannot participate in the pre-sale of tokens as well. Moreover, the citizens living in sanctioned countries and regions – Syria, North Korea, Iran, Cuba, and the Crimea – will not be able to participate in the ICO.

The document requires all the potential TON investors to go through the mandatory KYC procedure. This procedure is applied in the modern financial market and provides for the clients’ verification on the matter of any criminal activities possibly conducted by them. When going through the procedure it is necessary to provide a copy of the passport certified by a notary public, documents confirming the place of residence, bank recommendations, etc. A separate provision of the contract states that buyers of tokens will not use them to bypass the prohibitions and restrictions of the sanctions regime, as well as other illegal purposes. While it is not known exactly how TON will conduct monitoring and identify suspicious transactions.


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