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Iran Criminalises Use of Telegram Cryptocurrency, Declares it as a Threat to National Security

January 02, 2019 13:36
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Iran has further imposed curbs on flourishing cryptocurrency industry in the country. In its latest attempt, it has criminalized the use of Telegram cryptocurrency in the country while referring it as a threat to national security. The developments have been reported by Tehran Times.

Javad Javidnia, the Secretary of Criminal Content Definition Task Force has said that any cooperation to the launch of Gram, Telegram’s cryptocurrency will be considered as an action against national security. And, it will also be looked like an offence to disrupt the national economy. Javidnia stated:

“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.” 

Iran has already banned the use of Telegram messaging app in April 2018 when supreme leader Ayatollah Ali Khamenei said that government agencies would no longer use the app. Hassan Firouzabadi, the secretary of the High Council of Cyberspace stated that its initial coin offering was potentially “undermin[ing] the national currency of Iran.”

Firouzabadi has referred Telegram as an enemy of the private sector since Telegram never agreed to open an office in the country and work with the private sector. Russia has also banned the messaging app due to concerns over ICO and the possibility of an uncontrolled financial system.

The messaging app has already raised $1.7 billion in two ICO rounds and has sought to develop its own messaging app and blockchain platform Telegraph Open Network.

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