Iranian government warns public against Telegram’s coin

CryptoNewsZ – Authorities in Iran has taken steps against the popular encrypted messaging application Telegram. The nation has warned Iranian citizens against providing any support for the launch of telegram’s coin, the Gram.

In Iran, any cooperation with Telegram on the issuing of their crypto will be considered as “action against the national security.” Secretary of the Criminal Content Definition Task Force Javad Javidnia stated that providing support to telegram “will be dealt with as a disruption to the national economy.” He added, “One of the most important factors in banning Telegram was a sense of serious economic threat from its activities, which was unfortunately marginalized and neglected due to the fuss in the political atmosphere of the country.”

The Telegram was working on its Telegram Open Network (TON), which was aimed to offer a digital payments system. The company raised $1.7 billion from private investors, but then the ICO was canceled.

Initially, Iran imposed a ban on Telegram in April. At the time supreme leader Ayatollah Ali Khamenei stated that government agencies would no longer use the app. In 2017, Iran temporarily blocked Telegram and worldwide popular app Instagram, explaining that the step was taken to ‘maintain peace.’

Before the ban, Iranian officials believed that its initial coin offering (ICO) was potential “undermin[ing] the national currency of Iran.” Also, Hassan Firouzabadi the secretary of the High Council of Cyberspace who approved the ban considered Telegram as an “enemy of the private sector,” as “Telegram never [agreed] to have an office in Iran and refused to work with the private sector.”

Moreover, the People’s Republic of China has blocked Telegram. The Russian Federation also intends to block its platform.

Telegram became very popular in Iran attaining 50 million users, according to a BBC report. Iran’s approach to crypto assets has been changed with time. It has become optimistic about decentralized cryptos like Bitcoin. The country initiated to recognize mining as an industry and allow the imports of mining equipment. The country has also been planning to issue a national cryptocurrency. Though, a new bill aimed at curbing Iran’s efforts to create a crypto coin was introduced in the Congress in Washington.