Indian Government Investigates Telegram Over Criminal Activities Concerns
The Indian government has launched a probe into the popular social media platform Telegram amidst worries of its involvement in criminal activities like extortion and gambling. The investigation comes in the wake of Pavel Durov, the CEO of the app, being arrested in France recently.
– The inquiry is being conducted by the Indian Cyber Crime Coordination Centre under the Ministry of Home Affairs and the Ministry of Electronics and Information Technology.
– Telegram has a significant user base of over 5 million registered users in India, making it one of the most utilized messaging platforms in the country.
– Concerns raised by the government revolve around the alleged exploitation of Telegram’s peer-to-peer communication features by malicious actors to conduct unlawful activities.
– Despite complying with India’s Information Technology (IT) Rules, Telegram’s lack of presence in India is complicating regulatory efforts to oversee and investigate the platform.
– Speculations are rife that Telegram may potentially face a ban in India depending on the outcome of the investigation.
Accusations Against Durov for Allowing Criminal Activities
The investigation in India gains additional significance following the detention of Durov at a French airport recently. Reports reveal that Durov, a citizen of Russia, France, the UAE, and St. Kitts and Nevis, is being accused of failing to prevent criminal behavior on Telegram in Europe.
– French authorities allege that Telegram’s encryption tools have enabled criminals to thrive on the platform, while Telegram claims compliance with EU laws and content moderation regulations, dismissing the accusations as baseless.
– The arrest has stirred a backlash from Russian officials, with some suspecting political motives behind Durov’s detention. Russia’s top human rights official implied that French authorities aim to shut down the censorship-resistant platform.
Toncoin (TON) Price Decline Amidst Legal Woes
In light of the escalating legal issues surrounding Telegram, Toncoin (TON), the cryptocurrency initially developed by the messaging app, has experienced a significant downtrend with losses exceeding 20% over the past week, currently valued at $5.39.
– Over a 24-hour period, the token has witnessed an additional drop of close to 8%, underscoring the negative sentiment prevailing among investors following the recent developments.
– CoinGecko data indicates a substantial 66% decline in trading volume alongside a 34% deviation from its all-time peak achieved earlier this year in June.
Hot Take: Indian Authorities Crack Down on Telegram Amidst Criminal Activities Concerns
As the Indian government intensifies its scrutiny of Telegram over potential involvement in illicit operations, the recent arrest of CEO Pavel Durov in France amplifies the legal challenges faced by the messaging platform. With mounting pressure on Telegram to address regulatory concerns, the cryptocurrency Toncoin (TON) faces a steep decline in value, reflecting investor apprehension amidst the unfolding situation.
Sources:
– Moneycontrol
– Bitcoinist
– CoinGecko
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