US judge Orders the Telegram CEO to Testify in Court
A US judge has ordered three individuals to testify and they include Pavel Durov (CEO), Ilya Perekopsky, and Shyam Parekh.
The SEC accuses Telegram of selling unregistered securities, Telegram denies the claims.
The massive social media messaging platform has not gained a legal status for its upcoming coin called the "Gram". So District Judge P. Kevin Castel recently ordered the founder and CEO of Telegram to give testimony for the case. The company are not taking this accusation lightly. Instead, they are fighting back, insisting that their platform followed the rules for their new Gram token.
According to reports, Mr Perekopsky is responsible for the communication with their investors, which took place during the pre-sales, bringing in USD 1.7 billion worth of investment last year. Telegram was then originally sued by the SEC in October, pushing for a stop to the TON blockchain project and for the tokens involved with the investors of the project to be withheld.
Now it seems we have to wait and see the outcome of the court case to see if the Gram tokens will be issued and if the project will be allowed to go live.