Telegram Wallet Temporarily Restricted For UK Users Amid Corporate Restructuring

According to Cointelegraph, Telegram Wallet will be temporarily restricted for users in the United Kingdom due to a corporate restructuring. The popular messaging app announced on September 25 that the wallet feature will be available again once the company registers as a corporate asset provider under the Financial Conduct Authority (FCA) regulations. Until then, in-app wallet features for UK residents will be disabled. However, UK users can withdraw funds to external wallets without fees during this period, and Telegram will provide updates regarding accounts. In addition to the wallet restrictions, Telegram has announced significant policy changes following the arrest of its founder, Pavel Durov. The company will begin sharing user data with law enforcement upon a valid legal request. This data includes telephone numbers and IP addresses, raising concerns among privacy and anti-censorship advocates about potential misuse by state actors. Durov defended the decision, stating that it aims to protect users from criminal activity and maintain the platform's integrity. Furthermore, in September 2024, Telegram will disable the personal geolocation feature and replace it with a 'businesses nearby' option. The company also discontinued support for its 'Telegraph' blogging tool, citing misuse by a small minority of malicious actors spreading illicit material. Durov emphasized that the vast majority of Telegram users did not use the blogging feature for harmful content, but the actions of a few posed a significant risk to the broader community.