Telegram will provide the SEC with records of banking transactions and the use of funds raised by the TON project through the ICO,which the Commission demanded earlier in a lawsuit against the company.
According to documents filed Jan. 13 in court.Southern District of New York, Telegram must provide the court with banking records by February 26. Let us recall that last week the court rejected the SEC’s request to release Telegram’s banking information.
The latest ruling will allow Telegramedit information provided to the court in accordance with foreign confidentiality standards. According to the letter, Telegram will provide the SEC with financial information in full by January 15, and will edit it only if it is necessary to publish it in open sources.
Recently, the SEC presented evidence of the saleTelegram tokens after the completion of the ICO. Documents released by the SEC confirmed that two or more organizations billed Telegram for commissions from the sale of tokens in the summer of 2018. However, two rounds of the ICO, which Telegram claimed was eligible for an exemption from registration under Regulation D, were completed in February and March 2018.
Let us recall that in October 2019 the Americanthe regulator accused Telegram of unregistered token sales. Then the company agreed to postpone the launch of the project, which was previously scheduled for the end of October, until April 2020.
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