Telegram refuses to share the financial statements of its ICO

The editor of the famous messaging application Telegram would hesitate to hand over the documents related to the sale of his token GRAM to the policeman of the American stock exchange.

according to FinanceMagnates, the Security of Exchange (SEC) from the United States asked for an order that will force Telegram to provide an overview of its Bank accounts.

The regulator wants to know how the company to use the funds raised during its ICO private, which took place in early 2018 and allowed to raise $ 1.7 billion.

“The defendants are now refusing to disclose documents regarding how they spent the $ 1.7 billion they have collected from investors in the past two years and to answer questions about the disposition of investor funds, ”Wrote the SEC.

While Telegram planned to launch its blockchain YOUR and his digital piece GRAM in fall 2019, one month before launch, the DRY the company sued for selling its tokens without first registering the offer in the United States.

The New York Southern District Court then prohibited Telegram from broadcasting the GRAM before the end of the next hearing (February 2020).

Following the announcement, Telegram finally decided to postpone the release of its cryptocurrency to spring 2020. However, the company recently released a first version of its wallet.