Spainโs High Court Temporarily Suspends Telegram Services
In a recent development, the High Court of Spain has issued an order to temporarily suspend the services of popular messaging app Telegram in the country. The decision came after media companies in Spain lodged complaints against Telegram for allowing users to upload media content without permission on its platform. As a result, the price of Toncoin (TON), a decentralized blockchain developed by Telegram, experienced a significant drop of 5% within hours.
Complaints from Media Companies Lead to Suspension
Media companies such as Atresmedia, EGEDA, Mediaset, and Telefonica raised concerns about Telegramโs policies that allowed users to share content without obtaining proper authorization. In response to these complaints, Judge Santiago Pedraz ordered a temporary ban on Telegram services until further investigation can be conducted.
Telegram is currently the fourth most-used messaging service in Spain, as stated by the competition watchdog CNMC. With over 700 million monthly active users worldwide, this temporary suspension has placed Spain alongside other countries like North Korea, China, Iran, and Pakistan that have previously blocked access to Telegram.
Toncoin Price Plummets
The news of the temporary suspension had a direct impact on Toncoinโs price. The native token of Telegramโs decentralized blockchain witnessed a decline of over 5% following the court order. This drop occurred despite positive developments surrounding Telegramโs initial public offering (IPO) and its successful bond sales that secured $330 million in investments.
Currently, TON price is experiencing a 10% increase within the last 24 hours and a 27% surge over the past week. It is currently trading at $4.76, with a daily low and high of $4.16 and $5.15, respectively. Additionally, the trading volume has risen by 140% in the last 24 hours, indicating a growing interest among traders.
Investors have been drawn to Toncoin due to the recent announcement of a $115 million TON distribution and the launch of Telegramโs . These developments have sparked optimism regarding increased adoption of Toncoin within Telegramโs ecosystem, driven by the potential for advertising revenue and the platformโs expanding user base.
Hot Take: Diverse and Reliable Sources for Accurate Information
It is essential for crypto enthusiasts to rely on diverse and reputable sources when seeking information about the latest developments in the industry. By doing so, you can ensure that you are accessing accurate and credible information that upholds the integrity of your knowledge base. Sourcing information from a variety of trustworthy outlets helps prevent misinformation and allows you to form well-informed opinions.
When news like the temporary suspension of Telegram services in Spain breaks, it is important to analyze multiple perspectives and viewpoints. This enables you to gain a comprehensive understanding of the situation while avoiding biased or one-sided narratives. As crypto enthusiasts, your commitment to staying informed and educated should include seeking out diverse sources that provide balanced coverage.
By relying on a range of reputable sources, you can confidently navigate through breaking news and market developments in the crypto space. This approach ensures that your knowledge remains up-to-date and reliable, allowing you to make informed decisions regarding your investments and participation in the cryptocurrency ecosystem.
Remember, maintaining credibility and integrity within the crypto community relies on accurate information from diverse sources. By seeking out reliable outlets for news and analysis, you contribute to a more informed and transparent industry as a whole.
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