Telegram Founder Pavel Durov Discusses Crypto Privacy and SEC Challenges

Pavel Durov Telegram Crypto SEC
Telegram founder Pavel Durov recently spoke with Tucker Carlson about the growing importance of privacy and security in the realm of cryptocurrency, expressing concerns about the potential impact of surveillance hardware on these principles.

Despite the increasing involvement of governments in privacy issues, Pavel Durov remains optimistic about the future. He believes that privacy-conscious individuals can still safeguard their privacy using technologies similar to those already developed in the crypto industry.

Pavel Durov suggested that as online privacy becomes more critical, new hardware communication devices will likely emerge. He pointed to the success of hardware crypto wallets as evidence that the crypto market has already addressed similar privacy concerns.

During the interview, Pavel Durov also talked about Telegram’s blockchain project, The Open Network, which encountered resistance from the U.S. Securities and Exchange Commission (SEC) in 2019.

In October 2019, the SEC issued a restraining order against Telegram, halting the launch of its planned token, Gram. The SEC alleged that Telegram’s initial coin offering (ICO) violated securities laws by offering unregistered securities to investors.

Telegram had raised approximately $1.7 billion through the sale of Gram tokens to private investors in early 2018. However, the SEC claimed that the company failed to register to sell 2.9 billion tokens to initial investors worldwide, including $1 billion worth to U.S. buyers.

Despite the SEC’s actions, Telegram’s blockchain project continued, initially supported by blockchain enthusiasts who aligned with its principles. Over time, Telegram further integrated its ecosystem with Toncoin, the project’s native cryptocurrency, using it as a payment method in its advertising revenue-sharing system for channel owners.

The interview covered various topics, including Pavel Durov’s decision to relocate Telegram’s offices to Dubai and an incident involving an attempted robbery after a meeting between Pavel Durov and then-Twitter CEO Jack Dorsey in San Francisco.

Also Read: Goldman’s Caution Amid Bitcoin’s Fourth Halving

Leave a Reply

Your email address will not be published. Required fields are marked *