Telegram Passport to be the First Service for TON

Telegram Passport is a storage for users' personal data
10 May 2018   1903

Messenger Telegram created the first service for the TON (Telegram Open Network) - storage platform for personal data storage called Telegram Passport. Customers will be able to upload documents, passport data and details in order to pay with the cryptocurrency. This is reported by Russian media resource Vedomosti.

According to the publication, transactions on the platform will not be anonymous.

The documents will be protected by two-factor authentication and encrypted, including for Telegram, however the client will be able to open the partner services to access the documents so that they verify the reliability of the data, the source reported.

In Telegram Passport it is possible to place a passport, foreign passport, driver's license, utility bills, bank accounts and a photo. However, the list of mandatory data is still unknown.

Thus, TON will become an ecosystem within which it will be possible to pay for goods and services using the Gram cryptocurrency.

According to the source, to protect against prohibitions of regulators and banks, Telegram will refuse anonymity in favor of partnership with large services, in particular, with the Qiwi payment system.

It is expected that Telegram Passport can start operate by the beginning of the summer.

Malaysia to Regulate ICO and IEO

Rules says tokens can be distributed via venture capitalists and financial institutions without selling shares and without debt instruments
16 January 2020   132

In Malaysia, the procedure for initial coin offerings (ICO) and initial exchange offerings (IEO) has been established. The Malaysia Securities and Exchange Commission (SC) provided relevant guidance for participants in the digital asset industry.

According to the regulator, projects can distribute their tokens through venture capitalists and financial institutions without selling shares and without using debt instruments. It was also established the maximum limit on the amount of funds raised through ICO, which will be 100 million Malaysian ringgit or about $ 24.5 million. No special requirements for investors are provided, that is, both institutional and retail investors will be able to participate in such campaigns.

After the completion of sales, the regulator will monitor the spending of collected funds.

Digital tokens offering can provide another alternative fundraising avenue for early-stage entrepreneurs. This initiative supports Malaysia’s Shared Prosperity Vision 2030 (SPV2030) by supporting the growth of SMEs and micro businesses which are targeted to contribute 50% to Malaysia’s GDP. It also aligned with SPV2030’s aspiration to create 30% high technology Malaysian companies.

 

Datuk Syed Zaid Albar

Chairman of the SC

In addition, the rules for the functioning of IEO platforms were established. Such platforms, if they operate in the country, must independently register with the agency. In addition, they must carry out the necessary checks to verify the integrity of the issuer, as well as understand the capabilities and characteristics of the token they offer.

New regulations are expected to be established in Malaysia in the second half of this year. At the first stage, SC intends to cooperate with IEO platforms on the issue of identifying satisfactory issuers.