Deputy Chairman of the State Duma Committee on Information Policy Andrey Svintsov on July 29 recommended that Russians avoid investing in cryptocurrencies and digital assets associated with the Telegram ecosystem.
Shortly before that, it was announced that Russia’s Federal Security Service (FSB) had opened a criminal case against Telegram founder Pavel Durov and placed the entrepreneur on the international wanted list.
According to Svintsov, Russians should refrain from investing in Telegram-related crypto assets until the situation surrounding the company becomes clearer. He also advised people to temporarily avoid using payment services and other financial tools within the Telegram ecosystem.
Svintsov referred to the FSB’s position, which states that Telegram’s management failed to take action to remove channels, chats, and bots that, according to the agency, were allegedly used by Ukrainian intelligence services to prepare acts of sabotage, terrorist attacks, cyber fraud, and recruit operatives.
Svintsov said Telegram could be designated as a terrorist organization in Russia if, in the authorities’ view, the alleged violations are not addressed. At the same time, the lawmaker stated that the company could continue operating in the country if it complies with Russian law.
The statements came one week after Durov unveiled the built-in non-custodial crypto wallet Gram for Telegram’s audience of more than 1 billion users. The service will allow users to make instant, fee-free transfers within the app.
This post is for informational purposes only and does not constitute advertising or investment advice. Please do your own research before making any decisions.
