Telegram Wallet Restricted for UK Users amid Corporate Changes

Telegram Wallet Temporarily Restricted in the UK

Telegram, the widely used messaging platform, is implementing temporary restrictions on its wallet feature for users in the United Kingdom due to a necessary corporate restructuring. Announced on September 25, this decision stems from Telegram’s ongoing process to register as a corporate asset provider in compliance with regulations set forth by the Financial Conduct Authority (FCA). During this interim period, the in-app wallet functionalities for UK residents will not be available.

Importantly, Telegram is ensuring that while UK users cannot access their wallet features, they can still withdraw funds to external wallets without incurring any fees. This initiative aims to minimize inconvenience for users while the regulatory compliance is being finalized. Telegram has assured users that they will continue providing updates regarding their accounts and the status of the wallet feature.

Significant Policy Changes Following Pavel Durov's Arrest

In addition to the wallet restrictions, Telegram is undergoing notable policy changes following the controversial arrest of its founder, Pavel Durov. The messaging application has announced it will start sharing user data with law enforcement agencies upon receiving valid legal requests. This data sharing includes sensitive information such as telephone numbers and IP addresses.

This decision has sparked concern among privacy advocates and anti-censorship groups who worry about the potential for misuse of user data by state actors. In defense of the new policy, Durov expressed that the primary motive is to safeguard users from criminal activities, thereby preserving the overall integrity and safety of the platform.

Changes in Features and Services by Telegram

Looking ahead, Telegram is set to enhance its user experience by implementing further changes. By September 2024, the personal geolocation feature will be discontinued and replaced with a new 'businesses nearby' option, allowing users to find nearby businesses without compromising their personal location.

Addtionally, Telegram is also discontinuing support for its 'Telegraph' blogging tool. This decision arises from challenges posed by a small segment of users who misused the platform for spreading illicit materials. Durov pointed out that while the overwhelming majority of Telegram users utilized the blogging feature positively, the actions of a few have created significant risks for the broader community.

Conclusion

As Telegram navigates its restructuring and policy adjustments, users can expect changes aimed at enhancing security and compliance with regulatory standards. Telegram’s commitment to user safety and adherence to laws reflects the company's ongoing efforts to balance innovation and responsibility in the digital space.