The Court Attacks Telegram Again | The Internet Protocol

Earlier, we reported that the US Securities and Exchange Commission (SEC) demanded a bank statement, which shows how the company spent the funds collected over the past two years. The regulator managed to achieve what was desired: the court took into account the arguments of Telegram and SEC in the dispute. Now, the Durov team has to provide the regulator with the requested banking documents.

The decision of the United States District Court was final – the court does not plan to extend the deadline for submitting documents.

The court also allowed Telegram to hide part of the disclosed financial information under foreign privacy laws. However, the team must justify such actions. What is interesting in this situation? The decision was made by the same judge who had previously decided to reject the SEC attempt to get the needed information.

After a conference call during which the case on the regulator’s claim for detailed information about selling Gram during two preliminary rounds of the ICO was discussed, Judge Peter Kevin Castel stated that the regulator could only get access to some of the requested information.

Earlier, Telegram lawyers said that the team had already provided a large amount of information, including details about these transactions. At the same time, collecting additional information will be too burdensome for Telegram protection.

Let’s recall that earlier, the American regulator filed new documents against Telegram to the court, indicating the sale of tokens after the end of the pre-ICO, during which $1.7 billion was raised.