Telegram Releases Test Crypto Wallet Despite SEC Lawsuit
Telegram, the messaging app company turned blockchain startup, has released an early desktop wallet for its crypto token.
Telegram will not integrate a crypto wallet into its messaging app, at least until it gets the green light from U.S. regulators, the company said Monday on its official website.
U.S. District Court Judge P. Kevin Castel in New York signed an order to Britain's High Court to depose John Hyman, Telegram's chief investment officer.
The SEC produced evidence that Telegram kept selling tokens after its ICO, undermining the firm's argument that the sale was exempt from registration.
The U.S. Securities and Exchange Commission (SEC) wants Telegram’s former chief investment advisor to testify and hand over documents related to the company's $1.7 billion 2018 token sale.
Telegram's founder and CEO Pavel Durov, plus two other employees, should be deposed to give testimony in the SEC case over whether the gram token is a security, a judge has ordered.