The court rejected the SEC's request for Telegram to disclose financial information regarding TON

The U.S. Attorney for the Southern District of New York has rejected an attempt by the U.S. Securities and Exchange Commission (SEC) to obtainTelegram banking documentation related to the sale of Gram tokens.

According to FinancialFeeds, the judge made a non-final decision rejecting the SEC application.

It remains a possibility that the regulator will receiveaccess to at least part of the requested information, the publication notes. By January 9, Telegram must provide a schedule for checking bank records so that the court makes sure that they comply with foreign privacy laws.

The SEC's petition states that financial data on how Telegram and TON Issuer spent $1.7 billion raised frominvestors in the course of the Gram token sale are "very important to the proceedings."

Previously, the agency obtained an injunction banning the distribution of Gram among investors. The SEC believes that the token sale was an unregistered placement of securities.

Recall that the trial with the US regulator caused a delay in the launch of the main TON network - from October 31, it was postponed supposedly to April 30.