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2020-01-14

Telegram commitments to SEC

The telegram will reveal bank details that the U.S. Securities Commission believes are inappropriate to offer Gram Tokens worth $1.7 billion. 

From January 13th to February 26th, the Telegram will have time to provide the court with bank records that the court denied the SEC in an earlier ruling that was based on privacy considerations. 

Today's ruling will allow the Telegram to edit the information provided to the court under foreign privacy laws. According to a letter from the defence attorneys to the court, Telegram - a company founded in Russia by Pavel and Nikolai Durov, now based in Berlin - will provide the SEC with all of these bank details by 15 January, after which they will be edited before they are made public. 

The fact that Telegram's lawyers have agreed to make the full banking data available to SEC, while the public will have access to the edited versions, means that everyone will follow the next move of SEC as witnesses of what they do or do not find in the new documents. 

On January 10, the SEC issued invoices from alleged insurers for the sale of Gram Tokens, which, according to the SEC, prove that Gram Tokens are being offered outside the approved schedule.