The first week of 2020 was very intense on the crypto space,and one case that made debut,was SEC accusing Telegram of refusing to provide detailed records about how they spent the $1.7 billion They generated from their unregistered ICO sales of GRAM tokens,as their consider them as securities.

The defendants,that are helping the messaging app Company now refute all the allegations and claim that SEC "allegations are unfounded" and doesn't have relevance to the case.

The Telegram allegedly used the money generated from their ICO to build their Telegram TON Blockchain In agreement with the Investors,that allowed the company to initiate the project and only when it finished their gonna receive the Tokens,and to  clarify with the US Securities and Exchange commission they claim those tokens In the moment of issuing will be a commodity not a security.

SEC as the authority involved in the case want more info about how that money was spent,with all the details included In the report,and for them it's highly relevant to the case.

With all this Developments,the decision is on the Hands of the Judge and let's see In the coming days,what decision will be taken!