Telegram, the popular encrypted messenger launched by Pavel Durov in 2013, is not allowing persons falling into international sanction lists to participate in its giant ICO. This restriction is specified in the standard Telegram ICO investor form, the Russian business publication RBC wrote yesterday after getting acquainted with the document.
The ban applies to the people sanctioned by the United States, the UK, the EU and the UN Security Council —including those targeted following the Ukrainian crisis — as well as to their children, spouses, parents, siblings.
Excluded from the ICO are also citizens who are residents of, or residing in territories targeted by international sanctions. To date, these territories include Crimea, Cuba, Iran, North Korea and Syria, as mentioned in the investor form.
Telegram is now conducting its second private token sale, having raised $850 million from 81 investors (including Silicon Valley funds Benchmark and Sequoia Capital) during the first one. A third round of funding could allow Telegram to raise nearly $2.5 billion in total.
Telegram is already going down in history as the largest ICO to date, breaking the record set by Tezos last year ($232 million).
This giant ICO is controversial, however, with skeptics seeing in it just marketing fluff, or doubting that Telegram can fully fulfil its ambitious blockchain project.
