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John Wang
in
Legal
January 10 16:34

Telegram will be exempted from data disclosure

Telegram does not have to disclose its payment information to US Securities and Exchange Comission. The New York court has announced this decision
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SEC’s request has been denied by the judge. However, Telegram still has to provide proof, that the company’s data is protected by foreign legislation by January 9. Previously Telegram has shared the information about its transactions with the regulator, but it only covered the incoming cash flow. SEC has stated, that the company is consciously withholding the information of importance for the investigation.
SEC has filed a lawsuit against Telegram, concerning the launch of TON and Gram. The regulator believes, that the company had to register its deals with investors according to the securities regulation. Originally, the launch of cryptocurrency project was scheduled on October 31 2019. Because of the lawsuit, it had to be postponed until April 2020.