The Iranian government has taken additional steps against Telegram’s cryptocurrency development, the Teheran Times reports Dec. 31.
Secretary of the Criminal Content Definition Task Force Javad Javidnia has declared that any cooperation with the encrypted electronic messaging app to launch its Gram token are going to be thought-about an act against national security and a disruption to the economy. Javidnia stated:
“One of the foremost vital factors in banning telegram was a way of significant economic threat from its activities, that was unfortunately marginalized and neglected because of the fuss within the political atmosphere of the country.”
Iran initial banned the app in April once supreme leader ayatollah Ali Khamenei said that government agencies would now not use the app. The country’s judiciary subsequently forbade its use altogether. In Dec 2017, Iran quickly blocked telegram and photo-sharing app Instagram so as to “maintain peace” amid widespread protests.
Prior to the ban, Iranian officers criticized the app, stating that its initial coin offering (ICO) was potentially “undermin[ing] the national currency of Iran.” Hassan Firouzabadi, the secretary of the High Council of cyberspace approved the recommended ban because of Telegram’s potential for transferral cryptocurrency to all of its Iranian users.
Firouzabadi referred to telegram as an “enemy of the private sector,” since “Telegram never [agreed] to possess an workplace in Iran and refused to work with the private sector.”
The go-to electronic messaging app of the crypto business was additionally illegal in Russia because of considerations over its ICO, with the chance of a “completely uncontrolled money system” reportedly resulting in the block.
Telegram raised nearly $1.7 billion in 2 funding rounds earlier this year, one of the industry’s largest. The ICO wanted investment to support the development of the telegram messenger app and its own blockchain platform Telegraph Open Network.
Russian billionaire Roman Abramovich reportedly took part in the initial round of the ICO. Persons familiar with the matter told Russian media that Abramovich invested $300 million. Jon Mann,Abramovich’s spokesperson, made no comment on whether Abramovich took part, however denied the $300 million claim.
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