Russian Court Orders Companies To Block Telegram App – Company Raised $1.7 Billion In ICO

Crime, Investing, News, Regulation | April 15, 2018 By:

A Moscow court has ordered that chat app Telegram, which has raised $1.7 billion in its pre-initial coin offering, be blocked by Russia’s telecommunication companies.

The court order comes as Telegram refuses to provide law enforcement and intelligence operations with a key to read the encrypted messages on the service.

Tagansky court judge Yuliva Smolina granted a request by Russian communications regulator Roskomnadzor to restrict user access with immediate effect. The decision can be appealed.

The company is required by Russian law to provide encryption keys to let the Federal Security Service read the correspondence of suspected terrorists. Telegram has fought against such access,

Telegram is popular among blockchain and cryptocurrency advocates. The block may not immediately affect those tech savvy users, as  Telegram plans to use methods to bypass the block. Owner Pavel Durov said the company is not depending on its revenue at the moment, given its large cash cushion

Telegram has more than nine million users in Russia alone, and an estimated 200 million users worldwide. It is the process of building a blockchain network to processes transactions using a custom token.