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A New York court ordered Telegram to disclose full bank records by February 26 to verify compliance with IC0

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Compliance is a long way off.

BlockBeats reported that under Monday's court order, New York federal judge Kevin Castel ordered Telegram to disclose its bank records by February 26. A few days ago, the judge signed an order denying the SEC's attempt to force Telegram to produce full bank records, but said the agency could access information on certain requests. The ruling will allow Telegram to pre-modify information provided to the court under foreign privacy rules.

According to a letter sent to the court by defense lawyers, Telegram's lawyers have agreed to provide the SEC with the full bank records, which Telegram will provide to the SEC by January 15, though it will revise them before submitting them. And the public will be able to see the revised version, which means everyone will be watching the SEC's next steps to see if they find anything in the new document. "Seward & amp; Philip Moustakis, Kissel's lawyer and a former senior SEC lawyer, said the agency would be vigilant against evidence that Telegram "failed to take reasonable care to ensure that the buyer was not acting as an underwriter".

Telegram had earlier refused in a court filing on January 2 to disclose bank records about how they had used the $1.7bn they had raised from investors over the past two years, or to answer questions about the disposal of investors' money. Telegram reportedly raised $1.7 billion in two rounds of token sales in early 2018 to develop its blockchain project, TON. (Cointelegragh)