Telegram financial statements related to Gram fundraising will be submitted to the U.S. Securities and Exchange Commission

</span>USA&#8221;src=&#8221;/wp-content/uploads/2020/01/1d6470bb2a77b8b9572deffb29dafa71.png&#8221; alt=&#8221;Telegram's financial statements related to Gram's fundraising will be filed with the US Securities and Exchange Commission&#8221; /></p>

Telegram banking transactions will be transferred toreview by the staff of the U.S. Securities and Exchange Commission. This verdict was issued by a judge in the Southern District of New York as part of the project's current litigation with the SEC. Thus, Telegram has until February 26 to comply with the court’s demands.

In turn, Telegram lawyers notified the courtabout readiness to provide all necessary bank documents for the purpose of their examination by the SEC. Thus, how future events unfold depends on what the SEC finds. If the search is successful, the regulator will have every chance of winning this case.

The SEC has previously provided evidenceviolations of securities laws by Telegram in relation to the distribution of Gram tokens. The regulator claims that the project continued to sell coins after the approved deadlines, which became the basis for initiating a case against the company. The request for access to banking transactions was made in order to prove these accusations.

Telegram and the SEC began legal proceedings inOctober last year. According to the plaintiff, the project’s tokens are “unregistered securities.” In turn, Telegram refers to exceptions to Rule D, thus not violating US law.