SEC, Telegram Locked in Legal Battle as New Evidence Surfaces

Newly obtained documents from regulators are now in play with both sides digging in ahead of key deadlines.

An ongoing saga between US regulators and Telegram now has an added wrinkle, this time with the addition of new evidence which could lead to further delays in the judicial process, per SEC court filings.

To date, Telegram has found itself under the regulatory crosshairs of both the US’ Commodity Futures Trading Commission (CFTC) as well as the Securities and Exchange Commission (SEC).

Following its preliminary injunction against Telegram, the SEC has shined a light on several different pieces of evidence.

Per the latest filings, this includes documents produced by the Monetary Authority of Singapore on February 12, 2020, relating to the Liquid exchange.

Moreover, the SEC pointed to specific documents under analysis by a financial institution on January 23 and February 11, 2020, relating to Space Investments.

Documents previously produced by the Bittrex and Poloniex exchanges relating to representations by Gram Vault were also under investigation.

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It is unclear at this time what these documents immediately mean for the overall case. The development follows on the heels of apparent momentum from Telegram.

As recently as last week, TON developers and Investors backed Telegram in its SEC fight. Upwards of 2,000 participants have since formed a nonprofit for community governance, taking the side of Telegram.

One of the TON Community Foundation’s inaugural actions was to defend Telegram in the case.

To recap, on February 13, 2020, the SEC filed an omnibus opposition to Telegram’s motions to seal or redact certain exhibits submitted in connection with the parties’ pending motions.

Telegram will have until February 24, 2020, to submit a response to the SEC’s opposition.

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