The US Securities and Exchange Commission (SEC) on January 2 filed a court order requiring messaging platform Telegram to disclose details on how it raised funds during the Telegram ICO, as well as how to use this resource.
The SEC states that the filings requested are very relevant to the ongoing lawsuit against Telegram. They allege that the $1.7 billion raised through the Gram token sale constituted an unregistered securities sale.
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Inquiry about Telegram ICO
The filing requires both testimony and documents from Telegram regarding the amount, source and use of funds raised from investors. Remarkable:
Telegram currently refuses to disclose bank records related to how it has spent $1.7 billion it has raised from investors over the past two years and to answer questions about its disposal of the investment fund. private.
In October, the SEC declared urgent action against Telegram. The agency argues that its Gram token offering is actually an unlicensed sale of securities. This resulted in a delay in the launch of the TON blockchain, although Telegram denied that the tokens were securities.
The SEC states that the information requested in the latest filing is relevant to the ongoing case:
The bank records requested are very relevant to the issues in dispute in this case, including how much money Telegram spent and how, in developing the TON Blockchain, the Telegram Messenger app was integrated with TON Blockchain and related applications.
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