Law360 (January 2, 2020, 9:06 PM EST) -- The U.S. Securities and Exchange Commission on Thursday asked a New York federal judge to compel Telegram Group Inc. to quickly hand over bank records in a case alleging the company's $1.7 billion digital token sale was an unregistered securities offering.
In an emergency letter motion filed in the U.S. District Court for the Southern District of New York, the SEC said that reviewing Telegram's bank records to learn more about how it used the $1.7 billion raised in the token sale would help answer central questions that inform whether the sale of its digital token, Grams, tripped securities registration requirements....
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