The latest installment of what is set to be the catchphrase of this 2020, the cause involving telegram and the SEC, had seen the giant of the messaging services reject the request advances by the SEC to view the documents that attest to how the money obtained through the Gram ICO were spent; Telegram replied that this information, having recently changed banks, was no longer available.

Now Telegram's lawyers have returned to the matter, during the hearing held yesterday, and said they needed from a minimum of 5 to a maximum of 7 weeks to recover this information; according to telegram, in fact, something like 4600 transactions are involved involving almost 800 entities, between natural and legal persons, so it will now be necessary to verify the compliance rules of 12 different jurisdictions before being able to provide those data to the SEC.

In practice, since third parties are involved, which have nothing to do with the pending lawsuit, Telegram's lawyers want to ensure in advance that by providing the data of these transactions to the SEC they will not end up harming the counterparty's right to privacy active of those same transactions.

For the same reason, not surprisingly, the court had rejected the SEC's request for new documentation, but had not considered such a request superfluous; Telegram, therefore, will still have to prove that the money obtained from Gram's ICO (just under 2 billion dollars) has been spent lawfully, but it is correct that in advance we make sure not to infringe the right to privacy of any of the people involved.

While waiting for Pavel Durov, the founder of telegram, to be heard in the courtroom, all that remains is to arm ourselves with a lot of patience because this story seems destined to last much longer; this, however, is not a small problem because investors, who had decided to give telegram more time to clarify the situation, this spring could also decide to take advantage of the clause that gives them the right, due to the delay in the listing of the tokens (currently blocked by the SEC), to a refund which, however, will not cover the entire amount paid but something like 75%. D

to end this story, all the losers could come out defeated, the investors, who could lose 25% of their money if they decide not to wait for the conclusion of the process, and the same telegram that could see the 1.7 billion euro collection fly away dollars made through the ICO of a year ago.