People who have been placed on any sanctions lists of the USA, Great Britain, the European Union and the UN Security Council, won’t be able to take part in any of rounds of the closed ICO of the Telegram Open Network (TON) project of Pavel Durov. As RBC reports, it is stated in a standard form of the contract on purchase of Gram between Telegram Group Inc registered on the British Virgin Islands. and investor.
The ban also extends to the family members of these people — children, spouses, parents, brothers and sisters. Besides, any citizen who is the resident or living in the territory concerning which sanctions are distributed is forbidden to participate in ICO. For now, these are Crimea, Cuba, Iran, North Korea and Syria.
In the document it is noted that all potential investors of TON have to undergo the KYC procedure adopted in the financial markets for identification of clients and protection against criminal activity. Within KYC the person provides such documents as the notarized copy of the passport, confirmation of the residence, the recommendation from bank, etc.
In the standard contract between Telegram Group Inc. and the investor, it’s specified that the buyer of tokens has no right to use them for violation of a sanctions regime or money laundering and also terrorism financing.
At the same time, the document doesn’t have any info whether TON will monitor suspicious transactions itself or not.