The New York Southern District Court rejected an attempt by the US Securities and Exchange Commission (SEC) to obtain banking documentation from Telegram regarding the sale of Gram tokens.
According to FinancialFeeds, the judge made an inconclusive decision to reject the SEC application.
There remains the possibility that the regulator will gain access to at least part of the requested information, the publication notes. By January 9, Telegram must provide a schedule for checking bank records so that the court makes sure that they comply with foreign privacy laws.
The SEC petition stated that financial data on how Telegram and TON Issuer spent the $ 1.7 billion raised from investors during the Gram token sale are “highly relevant to the issues in dispute in this case”.