Cryptocurrency News Today – social media messaging platform, Telegram is looking to buy out its American investors. Telegram’s Blockchain project is known as TON (Telegram Open Network). The network will initiate a scheme that will see all its investors enjoy a 10% gain on their initial investment to its Blockchain.

Telegram also revealed its refund scheme in two phases but abandoned the later one due to regulatory concerns. The entity recently sent out a new letter to the investors revealing that all US investors on the network won’t last longer than a whole year on the project. Find out more about this new scheme by Telegram below.

About Telegram’s Refund Scheme

The move comes amid Telegram’s plans to refund after the organization recently delayed in its ambition to launch TON for the second time, on April 30, 2020. During TON’s failed launch, the firm decided to repay all its investors. Initially, Telegram’s refund scheme was set up in two separate options for the project’s investors.

The first option is described as an instant 72% refund initiative. While the second option promised investors over 110% within a period of 12 months. The 110% Telegram refund was more like a loan offer. Telegram revokes a 110 percent refund for American investors. However, Telegram has disclosed via a letter that its second refund option is been revoked from American investors on the TON project. This decision was made after reports surfaced that there is uncertainty surrounding the company’s native digital asset and the United States regulators.

The Refund Scheme Won’t be in Cryptocurrency

The move to revoke the second refund scheme will ensure that all TON United States investors are left with only the 72% Telegram refund option to benefit from. Hence, they can only benefit from the 72% option which only generates a 10% increase in their actual funds invested in the firm’s Blockchain project.

In addition to the proposed repayment plan issued by Telegram, the company said that it would repay its investors through its native crypto or via any other digital assets. However, the company has also revealed that it will discontinue in the above approach. The letter reads thus:

“It is unfortunate that despite our more recent discussions with the relevant authorities and the counsel we have issued, we have been forced to make the difficult decision to revoke an option involving grams or any other crypto due to the uncertain reception it got from U.S regulators.“