The U.S. Securities and Exchange Commission (SEC) wants Telegram’s former chief investment advisor to testify and hand over documents related to the company’s $1.7 billion 2018 token sale.
The SEC has asked the High Court of England and Wales to obtain the testimony and documents from John Hyman, a former investment banker with Morgan Stanley and Renaissance Capital who resides in the U.K.
Financial institutions know how to calculate the risk of serving traditional businesses. But for firms touching cryptocurrency, the math is still fuzzy. The assumption of added regulatory hurdles and money-laundering fears have led to a widespread problem: Your average bank would rather just not deal with it.