THELOGICALINDIAN - The altercation amid Telegram and the US Securities and Exchange Commission SEC is advancing to a abutting as the final acumen has been filed Telegram has been ordered to pay aback 12 billion The aggregation charge additionally pay the SEC a accomplished of 185 million
Final Judgment in Case of SEC vs. Telegram
The final acumen in the case of the U.S. SEC vs. Telegram Group Inc. and TON Issuer Inc. was filed with the District Court of Southern District of New York on Thursday. District Judge P. Kevin Castel has ordered Telegram Group Inc. to pay a civilian amends of $18,500,000 to the SEC aural 30 days.
Telegram charge additionally acknowledgment 70% of the $1.7 billion raised, accurately the unspent allocation of the funds acquired from investors beneath any money already refunded or that investors accept offered to accommodation the company. The cloister certificate states:
“Today’s proposed adjustment reconfirms our charge to accord the actual funds to purchasers beneath the acquirement agreements,” Telegram architect Pavel Durov was quoted by Siliconangle as saying. “We’ve already repaid added than $1.2 billion to the purchasers either anon or in the anatomy of loans.”
Furthermore, the cloister adjustment capacity that for the abutting three years, the defendants and all bodies complex who accustomed the final acumen are appropriate to accord 45 days’ apprehension to the SEC afore accommodating “in an arising of ‘cryptocurrencies,’ ‘digital coins,’ ‘digital tokens,’ or any agnate agenda asset issued or transferred application broadcast balance technology.”
The SEC vs. Telegram case began aback the agency acquired a acting abstinent adjustment on Telegram’s badge auction in October aftermost year for allegedly alms unregistered securities. The TON crypto activity aloft about $1.7 billion from investors in 2018. Telegram fought the SEC in cloister until a U.S. adjudicator sided with the agency in March and disqualified that the gram cryptocurrency could not be broadcast both in the U.S. and globally. Telegram after dropped the TON activity and its address adjoin the ruling. The aggregation offered to pay investors aback in two means but U.S. investors alone accept the advantage of demography 72% refunds.
This proposed adjustment is apprehension cloister approval. It is accurate by both Telegram and the SEC. The cloister certificate can be begin here.
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