America is suing Telegram. What’s happening?
This afternoon, Telegram received a lawsuit from the New York District Court. Representatives of government agencies require the company to disclose certain financial documents before February 26. This is not the first time a messenger receives a lawsuit. But this time it’s all a little more serious. Next, we will consider the news in detail and discuss all possible scenarios. So let’s get started.
What is the reason for the lawsuit?
Telegram is one of the largest messengers. Over 220 million loyal fans use the app every month. Traffic comes from all over the world and the USA is no exception. American customers are very fond of Telegram for a number of reasons. The application is regularly installed on a variety of media. Telegram is widely in demand among businessmen who trust the program code from Pavel Durov. Obviously, popularity brings substantial profits. Given the high profitability, the site regularly promotes the ideas of anonymity and decentralization. Also, the messenger is widely popular among various unscrupulous users. It, in addition to ordinary consumers, is used by drug dealers and other criminals. This is why the U.S. government is pushing Telegram over control.
The company management is very reluctant to cooperate. The messenger refuses to open access to dialogs. Authorized persons from the United States, of course, are unhappy with the state of things. And today, the government has taken a decisive step: the United States will force Telegram to open the history of the origin of corporate money. The companies are on a tight deadline, the documentation will be checked on February 26th.
The New York Southern District Court allowed the company to keep some of the information confidential. This is done so as not to violate the laws of other countries in which the application works. Nevertheless, the situation is still difficult. The company is suspected of serious violations during the ICO. Recall that earlier the messenger attracted substantial investments to launch its own platform on the Blockchain. However, the start of work had to be postponed precisely because of increased state attention and constant checks. Let’s deal with the possible consequences of such close attention to Telegram.
Possible actions by Telegram
Most likely, the messenger will make concessions. The fact is that the company must explain how $1.7 billion was spent. This is the amount Telegram received to start working its own crypto system TON. Big numbers always attract the attention of the authorities. And Telegram understands this. It is likely that there were no serious violations during the fundraising. So the company had nothing to hide. Analysts claim that the lawsuit against the US messenger simply emphasizes its own authority and significance. After some checks, both parties will agree on favorable terms.
Authoritative sources are sure that there is no cause for concern. With a probability of 90%, the company will open the necessary information, and then continue to delight its customers. You can closely monitor the response of the Telegram management to lawsuits in the company’s official Twitter account.
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