Those persons that are mentioned in the sanction lists of European Union or the United States will not be accepted to the circle of Telegram's investors.

Organizers of Telegram's initial coin offering decided to exclude potential investors, that fall under international sanctions of the EU and the US, from the list of those who are allowed to participate in any financing round of Telegram Open Network (TON) ICO. According to the purchase contract of Gram tokens, the ban also applies to their closest relatives, such as children, spouses, parents, siblings.

Additionally, it prohibits investment in TON any citizen who is located in, or a citizen or resident of any state, country, territory or other jurisdiction that is embargoed by the United States (Crimea, Cuba, Iran, North Korea and Syria), the document reads. It will not be possible to hide the data, since all potential investors must undergo the know-your-customer procedure by providing a copy of the passport, proof of residence, a recommendation from the bank, etc.

The copy of a purchase contract is cited by the Russian news agency RBC. Its authenticity was already confirmed by three entrepreneurs.

The appendix to the agreement between Telegram Group Inc. and an investor also notes that the buyer of tokens has no right to use them to violate sanctions regime or for money laundering purposes, as well as terrorist financing.

"Any illegal use of Gram cryptocurrency by unscrupulous participants may violate the normative acts adopted in the UK, the US and other countries aimed at combating terrorism financing and money laundering. This can seriously affect the global reputation of TON Blockchain," the document says.

Telegram Group Inc. is incorporated in the British Virgin Islands. In the first closed presale of Gram tokens, which took place in February, TON raised $850 million. Currently, Telegram conducts the second closed presale, seeking to attract twice as high as in the first round.