Pavel Durov, the founder of Telegram, has confirmed that TON Wallet will be included in the settings and files menus for all users starting from November, with the exception of those residing in the United States and other territories.
“This step will allow developers to enable hundreds of valuable new features,” says the entrepreneur, detailing, “TON Wallet, a third-party mini-application within Telegram, will introduce a completely new dimension of the web 3.0 to hundreds of millions of Telegram users.”
The TON “Wallet” currently functions as a bot within the messaging application. This week, it launched a new beta update for all users, enabling connections with web3 applications within the TON network.
It’s worth noting that currently, the TON ecosystem (including its wallet) and Telegram operate as independent developments. In Durov’s words, “since 2020, the open-source community has maintained and improved TON technology.”
However, TON’s journey hasn’t been without its share of challenges, particularly in its interactions with U.S. authorities.
The cryptocurrency project faced significant regulatory hurdles in the United States, which ultimately led to its exclusion from the upcoming integration into Telegram’s offerings for U.S. users.
Regulatory concerns and legal battles resulted in Telegram settling with the U.S. Securities and Exchange Commission (SEC) in 2020. As a part of this settlement, Telegram agreed to return $1.2 billion to investors and provide extensive disclosures to the SEC.
These legal complexities have created a divide between the global rollout of TON Wallet and its accessibility to users in the United States, highlighting the intricate relationship between cryptocurrencies and regulatory bodies in the evolving landscape of digital finance.
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