Russia Looking to Lift Telegram Ban

Russia is considering lifting the ban on encrypted messaging app Telegram due to its usage for propagating messages related to Coronavirus Coronavirus The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, Read this Term pandemic.

Reported by kommersant.ru on Wednesday, two deputies at the State Duma have prepared a bill to lift the ban of the app in the country.

Despite the ban imposed in 2018, Telegram has a massive user base in Russia. The country earlier made multiple attempts to block the platform, but failed.

“In most cases, Telegram works for Russian users without any hindrance. There is a wide number of free services that allow to easily bypass the ban. Therefore, further declarative ban of the messenger is damaging the prestige of the authority of the State, not the development of Telegram,” the draft bill stated.

The deputies argued that the messaging platform has become an “official service” for raising awareness by the authorities about the pandemic. Even offices in Moscow are using Telegram to spread crucial information about the pandemic to the public.

The draft bill has been sent to the Prime Minister’s office as well as to the Ministry of Communications.

However, the deputies did not discuss the prospect with the messaging platform or even with representatives at other factions of the State Duma.

What will be the fate of Gram?

Meanwhile, Telegram is struggling as the US regulator blocked the launch of its digital currency which, according to its commitment to investors, should be distributed by the end of this month.

The company already delayed the launch once from October to April, but the scenario is still not in its favor. Telegram is not seeking permission to distribute the tokens to non-US investors only. Notably, the token sale was not open to the US investor, however, many gained the token from third parties.