The Telegram Open Network (TON) and its cryptocurrency, the Gram, continue to face challenges in the United States. Well, the legal process against Telegram for having put up for sale assets without authorization from the Securities and Exchange Commission (SEC) is exacerbated. Now with a court order that would force Telegram to share details about the use of funds obtained from the pre-sale of Gram.

The conflict with justice

Telegram's conflict with American justice has been going around in the crypto world for a while now. After the US SEC, managed to bring an injunction against the launch of Gram. Accusing Telegram of having put financial assets on sale without the consent of the regulatory agency.

The alleged infraction would have been committed through the pre-sale of Gram tokens. Made by Telegram with a group of 171 select buyers. Who through it injected 1.7 billion dollars to the company, when buying 2.9 billion Gram. For the development of its currency and the Blockchain on which it has been developed, the Telegram Open Network.

For the US regulatory agency, this would have been a flagrant violation of American laws. So, for several months now, he has tried to stop the launch of Gram by all possible means. Even getting the American justice to make a formal request to the High Court of England and Wales. To get documents from a former Telegram worker, John Hyman.

Due to these legal proceedings, the Telegram team has given signals. Tending to indicate a possible postponement in the official launch of both TON and Gram. At least, until this conflict with American justice is settled.

A new confrontation with the SEC

However, the end of the conflict seems quite distant. Well, the SEC has now gotten the Judge in charge of the case, Kevin Castel. Ask Telegram to reveal the financial reports, where the use that was given to the 1.7 billion dollars of the pre-sale is settled.

According to the regulatory agency, these documents would be necessary before the interrogations of three company employees next week. Something that has denied the defense of Telegram. Which has declared before the judge that the financial information of the company would not be necessary for the case:

“On behalf of the Defendants, we write in opposition to the motion of the letter presented by the SEC, seeking to force the production of bulky and highly sensitive bank records. That they have little or no relation to the claims and defenses in this action and would impose undue burdens on the defendants, ”says a letter sent by the defense to Judge Castel.

Therefore, Telegram would be refusing to provide the requested information. Requesting a reconsideration by the judge in charge of the case. Which, if not successful, would force the company to provide potentially sensitive information.

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