Friday, June 2, 2023
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

Chinese tiremakers bet on recovery via new plants in Cambodia

Chinese tiremakers bet on recovery via new plants in Cambodia

by Khmer Times
May 30, 2023
0
2

Manufacturers in China, the world’s largest producer and exporter of tires, are building factories abroad in an optimistic mindset to...

Cambodia Mekong River cruise business ‘slowly’ getting back on track

Cambodia Mekong River cruise business ‘slowly’ getting back on track

by Khmer Times
May 30, 2023
0
0

Mekong River cruise business is getting back on track, but at a slow pace, according to a prominent player in...

$2 million electric motorbike assembly plant in Cambodia by Verywords Co Ltd launched

$2 million electric motorbike assembly plant in Cambodia by Verywords Co Ltd launched

by Khmer Times
May 30, 2023
0
3

South Korean eco-friendly electric two-wheel vehicle supplier Verywords Co Ltd inaugurated its plant to assemble electric scooters in Kandal province,...

Most Popular

2 Chinese tourists’ naked bodies found in Bali hotel

2 Chinese tourists’ naked bodies found in Bali hotel

May 6, 2023
221
Oriental Bank Plc, new commercial bank in Cambodia, to enter market ventured by G Capital Bhd, Public Bank Bhd, E S Packaging

Oriental Bank Plc, new commercial bank in Cambodia, to enter market ventured by G Capital Bhd, Public Bank Bhd, E S Packaging

December 12, 2020
3.6k
Harry takes a seat at coronation, but no balcony appearance

Harry takes a seat at coronation, but no balcony appearance

May 8, 2023
6
Dara Sakor International Airport in Koh Kong province of Cambodia delayed due to unfinished construction

Dara Sakor International Airport in Koh Kong province of Cambodia delayed due to unfinished construction

May 19, 2023
5
Korea’s wiring harness manufacturer starts production in Kampong Speu of Cambodia

Korea’s wiring harness manufacturer starts production in Kampong Speu of Cambodia

April 27, 2023
5
Upside down flags: SEA Games organiser apologises for gaffe in opening ceremony

Upside down flags: SEA Games organiser apologises for gaffe in opening ceremony

May 8, 2023
4

© 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 !!