Tuesday, June 28, 2022
Khmer Daily Cambodia News
34 °c
Phnom Penh
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
The Khmer Daily
No Result
View All Result
Home Tech

Encrypted messenger Telegram closes down cryptocurrency project

May 17, 2020
in Business, Tech
0
Encrypted messenger Telegram closes down cryptocurrency project
0
SHARES
10
VIEWS
Share on FacebookShare on Twitter

AFP – The Telegram messaging service has announced it is ending an ambitious cryptocurrency and payments system project after a legal battle with regulators in the United States.

“We are announcing the discontinuation of our blockchain project,” Telegram founder Pavel Durov announced on his Telegram channel late on Tuesday, saying it was a “sad day”.

The Telegram Open Network (TON) platform based on blockchain technology was designed to be a secure payments system, offering an alternative to Visa and Mastercard.

Telegram raised a record sum of $1.7 billion from 200 private investors during a massive initial coin offering (ICO) for its virtual currency “Gram”.

The US Securities and Exchange Commission (SEC) brought legal action against Telegram for its 2018 ICO accusing the company of launching an unregistered securities sale.

In March this year a US judge ruled the project could not go ahead until the dispute was settled.

Durov said some of Telegram’s best engineers had been working for two and a half years on the “next generation” project.

He said the US court ruled the TON platform could not be used anywhere in the world because US citizens might find a way to access it once it launched.

“The United States can use its control of the dollar and the global financial system to close any bank or bank account in the world,” Durov said, adding it was “unfortunate” most of the world was dependent on decisions made by US politicians.

Telegram was launched in 2013 by Russian brothers Nikolai and Pavel Durov.

It allows some 400 million users to exchange encrypted text messages, photos and videos, and also create “channels.”

This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.

Previous Post

Japan Covid-19 doctors lack fresh masks, hazard pay-union survey

Next Post

Plan for reopening Battambang airport launched

Related Posts

Cambodia’s Pailin Province aims to attract more tourists with Otavao Waterfall attraction

Cambodia’s Pailin Province aims to attract more tourists with Otavao Waterfall attraction

by Khmer Times
June 27, 2022
0
19

Pailin Province continues efforts to build and strengthen its tourism sector through clean-up and development projects in the province. The...

The export price for Cambodia rice hike due to global food insecurity driven by Russia-Ukraine conflict

The export price for Cambodia rice hike due to global food insecurity driven by Russia-Ukraine conflict

by Khmer Times
June 24, 2022
0
14

The price for Cambodia’s rice export continues to rise due to prolonged global food insecurity driven mainly by on-going Russia-Ukraine...

Two new varieties of Cambodia rice launched for international market

Two new varieties of Cambodia rice launched for international market

by Khmer Times
June 24, 2022
0
15

The long and slim kernels SKO rice stands for Sen Kro Oub and DSMK stands for Damneob Sbai Monkul. These...

© 2020 By Khmer Daily News

No Result
View All Result
  • Home
  • Latest
  • Cambodia
  • ASIA
  • World
  • Business
  • Tech

© 2019 The Khmer Daily.

error: Content is protected !!