- Legal Charges Against Pavel Durov
- Market and Crypto Community Reaction
- Future of Toncoin and The Open Network
TON token fell by 7% after Telegram CEO Pavel Durov reported legal issues in France. According to various sources, Durov has been accused of 12 crimes, some related to cryptocurrencies.
Legal Charges Against Pavel Durov
Toncoin's price dropped to $5.08, a 35% decline from its June high, following Pavel Durov's arrest at Le Bourget Airport. Rumors suggest the charges involve unlawful cryptology services and unregistered tools related to TON's blockchain platform. Other charges include money laundering and failure to cooperate with authorities. If convicted, Durov could face up to 20 years in prison. However, these charges are not yet confirmed and investigations are ongoing. Durov may remain in custody until August 28 as the situation develops.
Market and Crypto Community Reaction
The news has drawn criticism from various personalities such as Elon Musk and Justin Sun, who consider the charges a violation of privacy rights. Some critics argue that the allegations are false and could be used to target other tech entrepreneurs.
Future of Toncoin and The Open Network
As the legal process continues, the future of Toncoin and The Open Network may be at stake. Telegram has 900 million users, and TON's success depends on its integration with the platform. Supporters hope for a positive outcome, although the case may impact cryptocurrency development and privacy rights advocacy.
For now, the crypto world is watching to see how this legal battle will affect Toncoin and its position in the digital space.
Comments