Telegram To Produce Unredacted Records to SEC In ‘Controversial GRAM Token Sale’

2020-1-14 18:55

Telegram ordered by Southern New York District Judge, Kevin Castel, to reveal all relevant financial information from its GRAM token sale including all banking records and details by February 26th this year. The judge had previously blocked the Securities Exchange Commission (SEC) from accessing all the documents setting a scope of financial details accessible to the US securities regulator on request by Telegram’s lawyers who argued against breach of privacy laws for their international based customers.

According to the court ruling released on Monday, January 13th, the messaging app company will be required to release bank records to SEC, who aim to prove traces of misconduct in raising the $1.7 billion ICO last year. The courts will receive a redacted version of the financial records in accordance with the international privacy laws. The court ruling reads,

“Only redactions necessitated by foreign privacy laws shall be permitted and a log stating the basis for any redaction shall be produced at the time the redacted documents are produced. Defendants shall produce the bank records on a rolling basis and shall complete production by February 26, 2020.”

After several extensions on the deadline of the supposed release of the bank records, the court stated it will not extend the deadline to produce the financial records past Feb. 26th.

While Telegram’s request for additional five-to-seven weeks has been accepted, the disclosure of full records to the SEC may come as a blow to its cryptocurrency project and further delay the launch of the TON blockchain.

Earlier in the year, the SEC filed for a motion for Telegram to produce records on how it spent its $1.7billion USD raised from the ICO sale of GRAM tokens. After an initial request was denied by the Southern District of New York, offering Telegram the leeway to provide documents in line with the international privacy laws.

However, another filing on January 10 by the SEC claimed new evidence in the form of invoices from alleged underwriters, which raised suspicions hence their request for the bank records. This will see the case drag on for a few months as the investigations take place. If the investigations are not done by April, Telegram may be forced to reimburse investors the money they invested in the GRAM ICO as stipulated in the contract.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Waves Community Token (WCT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 1.05 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.2301 (-100%)

token all telegram gram sale records year

token all → Результатов: 126


Центробанк Китая: закрытие нескольких десятков криптовалютных бирж не отразилось на гражданах

В течение 2019 года власти КНР прекратили деятельность 173 платформ, торгующих криптовалютами и токенами, однако это не сказалось отрицательно на гражданах страны. Об этом свидетельствует отчет «О финансовой стабильности Китая», опубликованный Народным банком.

2019-11-26 11:20


Фото:

China Shuts Down 173 Cryptocurrency Exchanges and Token-Issuing Platforms

China has reportedly shut down all cryptocurrency exchanges operating within the country, according to a Twitter update from Chinese blockchain outlet CnLedger. CnLedger quoted the People’s Bank of China (PBoC) Financial Stability Report (2019), stating that “the 173 Chinese virtual-currency trading and token issuing platforms have all exited without risk.

2019-11-25 16:06


Can The Blazing Fast EOS 2.0 Save Eos, The Token?

The crypto currency EOS is known to many crypto users as the longest ICO of all time. The EOSIO 2.0 update gives you the opportunity to take a closer look at the project and the latest changes. These are of particular interest as they make the network more powerful as well as making dApp developers’ […]The post Can The Blazing Fast EOS 2.0 Save Eos, The Token? appeared first on CaptainAltcoin.

2019-11-19 00:49


DAOBet (ex. DAO.Casino) Token Swap Has Begun: Time to Claim BET Tokens

Bitcoin Press Release: Having created a blockchain entirely dedicated to the online iGaming market, DAOBet now allows the token holders to switch their ERC-20 assets to the custom built mainnet. 13th November 2019, Singapore: With online gaming industry growing, blockchain technology offers all of the characteristics that any gambler could want – speed, efficiency and […] The post DAOBet (ex.

2019-11-14 15:29


Биржа Bitfinex отменила IEO проекта K.im из-за регуляторных опасений

Криптовалютная биржа Bitfinex отменила токенсейл децентрализованной платформы монетизации контента K. im из-за регуляторных опасений. Regretfully we inform our community that the https://t. co/HM04y6rmef token sale has been postponed indefinitely.

2019-11-6 16:57


Diamond Open Market ICO

The Diamond Open Market,an EOS-based platform to buy and sell natural and lab-grown diamonds, heirloom or other jewelery, is opening the formerly closed diamond market for everybody. DOM will present a marketplace and a trading platform for businesses and individuals working as a reliable tool for B2B, B2C or P2P relations.

2019-10-11 22:33