Telegram will be forced to tell where the money from the sale of cryptocurrency was spent

The court still ordered Telegram to provide the U.S. Securities and Exchange Commission (SEC) with banking information about

how and on what the company spent the funds raised for the launch of the cryptocurrency.

Telegram has until February 26 to provide all banking details.The company was allowed to edit them, hiding confidential information.

Recall that the SEC began to demand information from Telegram through the court about the funds spent at the beginning of this year.The company received this money from investors to launch the TON blockchain platform and the Gram cryptocurrency.In total, Telegram raised $1.7 billion.

The company's lawyers insisted that the collectionadditional case data will be burdensome. And all the necessary information to the court has already been provided. It is worth noting that the subject of litigation is the question: is Gram cryptocurrency a security or not?

The SEC recently also announced that Telegram was selling tokens after the end of the ICO.