Telegram in-app wallet temporarily blocked for UK users due to overhaul – TradingView News

The wallet provider announced in September that the wallet on Telegram will be temporarily restricted to users in the United Kingdom due to restructuring of its integration into the open platform, and will be available after the company registers as a corporate asset provider. On the 25th.

The popular third-party service has decided to register as a crypto asset provider under current Financial Conduct Authority (FCA) regulations, and Wallet, the company behind the app, has said it will disable in-app wallet features for UK residents until it receives the appropriate regulation. Licenses.

Additionally, Telegram Wallet users in the UK will be able to withdraw money to external wallets free of charge during this period and receive updates on their accounts.

Wallet on Telegram is not powered by Telegram. Its application to the FCA is a separate decision by a separate company and is unrelated to the case involving Pavel Durov and other Telegram policy changes.

Extensive changes to Telegram policies and features

As part of policy changes following the arrest of Pavel Durov, Telegram recently announced that it would begin sharing user data with authorities in the event of a “proper legal request” by authorities.

This user data includes phone numbers and IP addresses, which has raised concerns among privacy and anti-censorship advocates due to the potential for misuse by state actors.

At the time the policy change was announced, Durov defended the decision, arguing that it would protect the site’s users from criminal activity. In a message to the Telegram community, Durov wrote:

“These measures should discourage criminals. Telegram Search is intended for finding friends and finding messages, not for promoting illegal material. We will not allow bad actors to compromise the integrity of our platform for nearly a billion users.

In September 2024, Durov also announced that it would disable the personal geolocation feature in the Telegram app and replace it with a “Nearby Business” option.

At the same time, Telegram ended support for the platform’s “Telegraph” blogging tool, citing a minority of bad actors using the platform to spread false content. Durov clarified that most Telegram users do not use the blogging feature to post harmful content.

However, Telegram’s founder said the “0.001%” of individuals using the platform to spread illegal material pose a disproportionate risk to the wider law-abiding community.