Pavel Durov, the Russian entrepreneur behind the messaging app Telegram, has recently been detained in France.
French prosecutors reported that Durov’s arrest is linked to an investigation into serious allegations, including child pornography, drug trafficking, and fraudulent activities on Telegram.
The investigation, which began on July 8, is being led by France’s cybercrime unit and also includes suspicions of Durov’s involvement in facilitating illegal transactions and money laundering through his platform.
Paris prosecutor Lore Bequoi clarified that Durov’s arrest is part of a broader probe into accusations of failing to cooperate with authorities and providing cryptographic services to criminals. He may remain in custody until Wednesday.
Telegram, a popular messaging and social media application similar to WhatsApp, boasts nearly 1 billion users, with significant popularity in Russia, Ukraine, and other former Soviet states.
Tensions surrounding the Ripple vs. SEC lawsuit are intensifying as discussions about a potential appeal gain traction.
BNY Mellon, the largest custodian bank in the U.S., has reportedly secured an exemption from the SEC’s Accounting Bulletin 121 for its institutional crypto custody operations.
Charles Hoskinson, co-founder of Cardano and Ethereum, has raised concerns about how former President Donald Trump and Vice President Kamala Harris approach cryptocurrency policy.
The Bank of Canada has announced that it is winding down its efforts on retail central bank digital currency (CBDC), as per an update on its website.