March 31, 2023

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

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Telegram banking transactions will be transferred toconsideration by the US Securities and Exchange Commission. Such a verdict was issued by the judge of the Southern District of New York in the current trial of the project with the SEC. Thus, Telegram has time until February 26 to comply with the requirements of the court.

In turn, Telegram lawyers notified the courtreadiness to provide all necessary banking documents for the purpose of studying them by SEC. Thus, how further events will develop depends on what the SEC finds. If the search succeeds, the regulator will have every chance to win this business.

SEC has previously provided evidenceTelegram's violation of securities laws regarding the distribution of Gram tokens. The regulator claims that the project continued to sell coins at the expiration of the approved deadlines, which became the basis for initiating proceedings against the company. The request for access to banking operations was made in order to prove these allegations.

Telegram and SEC start litigation inOctober last year. According to the plaintiff, the project tokens are “unregistered securities”. Telegram, in turn, refers to exceptions to Rule D, thus not violating US law.