TON Foundation Eyes US Move Amid Trump’s Pro-Crypto Vision

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The TON Foundation, a well-known blockchain community, has revealed its intention to expand into the U.S. Being closely linked with Telegram Messenger LLP, the foundation seeks to capitalize on the expected cryptocurrency-friendly regulations in the country.

The Bloomberg report indicates that this action supports the intention of President-elect Donald Trump’s administration to establish the U.S. as a world pioneer in cryptocurrency advancements.

A New Chapter for TON Foundation

With the upcoming inauguration of Donald Trump in the United States on January 20th, the TON Foundation is likewise undergoing a transition in leadership. The foundation has chosen Manuel Stotz to take over as President, replacing Steve Yun.

Experienced investor Stotz, who leads Kingsway Capital Partners, is anticipated to contribute significant knowledge to the nonprofit organization. While Stotz assumes the presidency, Yun will remain a member of the board.

According to Stotz, the foundation is positioning itself for development and prosperity through its recent expansion. He highlighted that during Donald Trump’s presidency, the U.S. is poised to emerge as a significant hub for cryptocurrency.

The groundwork is set to take advantage of any positive conditions arising. Trump’s supportive stance towards cryptocurrencies stands in stark contrast to President Joe Biden’s strict regulations. Biden’s policies have created an atmosphere of regulatory ambiguity within the industry.

The assurance from Trump to stimulate innovation and minimize bureaucratic obstacles has sparked optimism among blockchain advocates and industry leaders. Notably, Ripple, a prominent player in the blockchain payments sector, has stated that 75% of its job openings are now located within the United States.

Over the past years, most hires were overseas. However, this trend has shifted significantly towards hiring in the United States. This transition is indicative of a deliberate business strategy aimed at capitalizing on the projected beneficial regulations under the current government.

The TON Foundation views this prospect of regulatory clarity as a valuable chance. The foundation aims to broaden its influence by offering blockchain solutions to the 950 million users on Telegram.

Telegram incorporates Toncoin for transactions, gaming, and various services, demonstrating the potential of blockchain technology within popular messaging systems. By merging blockchain with daily apps, TON is poised to spark a fresh trend in digital interaction.

Rocky Road to Innovation

Over the past few years, the Telegram platform has encountered several difficulties. In 2020, it resolved a dispute with the U.S. Securities and Exchange Commission (SEC) regarding its efforts to fund the development of the GRAM token.

In response to increased regulatory oversight in the U.S., the TON Foundation decided to relocate to Switzerland in 2023. Despite these challenges, the platform continues to prioritize its goal of expanding and connecting the TON blockchain with a fully operational Decentralized Autonomous Organization (DAO) ecosystem, aiming to empower its user base.

Additionally, Telegram has been embroiled in disputes. Recently, its CEO, Pavel Durov, was apprehended in France on allegations of disseminating unlawful content. However, Durov refuted the accusations and emphasized Telegram’s commitment to combatting misuse.

Regardless of the obstacles, Telegram managed to achieve a significant accomplishment in 2024. This popular messaging platform surpassed one billion dollars in earnings, demonstrating its enduring appeal and robust business structure.

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2025-01-14 20:55