March 23, 2023

Telegram will provide SEC with banking information on funds raised through ICO

Telegram will provide SEC with records of banking operations and the use of funds raised by the TON project through ICO, which the Commission demanded earlier in a lawsuit against the company.

According to documents submitted to the court on January 13Southern District of New York, Telegram must provide the court with bank records by February 26th. Recall that last week the court rejected the SEC petition for the issuance of banking information Telegram.

The latest ruling will allow Telegramedit the information submitted to the court in accordance with foreign confidentiality standards. According to the letter, Telegram will provide SEC with financial information in full until January 15, and will only edit it if necessary to publish it in open sources.

SEC recently presented evidence of the saleTelegram tokens after completing the ICO. Documents published by the SEC confirmed that two or more organizations issued Telegram invoices for commissions from the sale of tokens in the summer of 2018. At the same time, two rounds of ICO, which, according to Telegram, had the right to be exempted from registration in accordance with “Regulation D”, were completed in February and March 2018.

Recall that in October 2019, the AmericanThe regulator accused Telegram of unregistered sale of tokens. Then the company agreed to postpone the launch of the project, which had previously been planned for the end of October, until April 2020.