June 16, 2024

Telegram founder Pavel Durov testifies against SEC in January 2020

Telegram founder Pavel Durov testifies against SEC in January 2020

The founder of the Telegram platform and the TON blockchain project, Pavel Durov, will testify against the Securities CommissionUS Securities and Exchange Commission (SEC). Thus, according to Coindesk, on Monday, Judge Peter Kevin Castel of the District Court for the Southern District of New York signed the corresponding document.

The hearing date is set for January 7 or 8, 2020of the year. The meeting place has not been specified at this time. Let us note that a month later there will be a court hearing on the legality of distribution of the project token. Let us remember that in October the SEC accused Telegram of selling tokens, which, according to the regulator, are equivalent to unregistered securities. The commission ordered the sale of tokens to US investors to cease. At the time of filing the complaint, more than a billion tokens had already been distributed among American investors.

But according to project representatives, the accusationsSECs are inappropriate since the token has not yet been released and will be either a currency or a commodity when issued. To reassure investors, the project management proposed to postpone the launch of the project. In turn, investors supported the proposal.