Next Hearing In US Securities Commission Suit Against Telegram Set For February 18 - Court

WASHINGTON (Pakistan Point News / Sputnik - 19th October, 2019) The US District Court for the Southern District of New York scheduled the next hearing in the Security Exchange Commission's (SEC) lawsuit against the Telegram Group for February 18, 2020, a court representative told Sputnik.

"Preliminary injunction hearing set for February 18 at 11:00 a.m. [3:00 p.m. GMT],""the representative of US District Judge Kevin Castel told Sputnik after the hearing on Friday.

Castel ruled that the parties in the case should provide all documents to the court by January 27.

Last week, the SEC filed a lawsuit to block the Telegram's unregistered digital token offering in the United States and overseas that has raised more than $1.7 billion in investor funds.

According to the SEC, Telegram and its wholly-owned subsidiary TON Issuer Inc. began raising capital in January 2018 to finance the their business, including the development of their own blockchain - the "Telegram Open Network" or "TON Blockchain" as well as the mobile messaging application Telegram Messenger.