U.S. federal judge retains SEC motion to deny Telegram's defense of ambiguity in regulations

According to Cointelegraph reported on November 28, a federal judge in the United States has retained a motion by the U.S. Securities and Exchange Commission (SEC) to reject Telegram's defense of "ineffective litigation due to ambiguity / lack of regulation (SEC) notices. On November 25, the court ordered Telegram founder Pavel Durov to testify on the sale of Gram tokens on January 7 or 8, 2020. Telegram's other two employees, Ilgram Perekopsky, vice president of Telegram, and Shyam Parekh, an employee involved in the Gram token sale, will also be on different dates. testify. The SEC claims that Telegram violated federal law, which forced the Telegram Telegram Open Network (TON) network, originally scheduled for release on October 31, to be suspended. Gram token investors' purchase agreement stipulates that if the network fails to launch on that date, they can vote for a refund. In the end, investors participating in the TON network and GRAM token sales voted against the refund, delaying the tentative sale date to April 2020.