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Cryptocurrency is a medium of exchange, namely digital cash and crypto currency. It can be sold or bought and is used to purchase goods and services online. What makes it different from the ordinary currency is that it is secured by cryptography and a network of computers verifying every transaction. As decentralized digital money, cryptocurrency is based on blockchain technology. The most widely used cryptocurrencies nowadays are Bitcoin, Ethererum, LiteCoin, and Ripple.
Investors asked the court to prevent the disclosure of the names. The court may make exceptions if this data is not important for the outcome of the case.
While the litigation between the US SEC and Telegram is in full swing, it became known that the Chamber of Digital Commerce wants to intervene as a third independent party.
The Telegram Group and the SEC appealed to the United States District Court for the Southern District of New York with a request to expedite their case, while also announcing their positions.
Liquid PR campaign attracted investments in a total of $1 billion but did not directly make any deals with Pavel Durov’s company.
The Court Attacks Telegram Again: The Court Ordered Telegram to Disclose Pre-ICO Financial Information by February 26
The US District Court made the final decision and will not extend the deadline for submitting financial documents. Telegram has time to provide required materials until February 26.
The SEC provided evidence of Telegram tokens sales after the pre-ICO, which Telegram refused to give earlier. Now, Telegram says that it will most likely not have time to provide the SEC with the required information before the next hearing.