The price of the Gram token dipped to $1.38 on July 29 following a sharp warning from Russian officials. Andrey Svintsov, deputy chairman of the State Duma Committee on Information Policy, urged citizens to stop buying Gram cryptocurrency and avoid any financial dealings on Telegram until official guidance comes from security agencies.
Pressure Mounts on Telegram’s Local Operations
Svintsov’s statement wasn’t vague advice but a direct call to freeze transactions within Telegram’s ecosystem. He insisted Russians should not subscribe to paid channels or purchase TON currencies for now. The demand aligns with prior Russian government requests that Telegram set up a local office, store user data domestically, and cooperate with the FSB intelligence service.
This escalation traces back to charges filed against Telegram founder Pavel Durov, accusing him of facilitating terrorism. The Federal Security Service alleges Telegram has failed to shut down multiple channels and bots, including the popular dating chatbot "Dayvinchik" with over 13 million users. According to investigators, Ukrainian intelligence exploited this bot to recruit young Russians by impersonating women. The FSB links these activities to serious sabotage and cybercrime resulting in human casualties and massive material losses across Russia.
Market Impact and Legal Fallout
Gram’s value slid amid these developments but recovered slightly to $1.42. Still, the token remains 14% lower for the year. Durov, who was briefly detained in France, confirmed that Russian authorities had opened a criminal case against him for allegedly aiding terrorism. This legal battle adds fresh uncertainty to Telegram’s operations and its cryptocurrency ambitions in Russia.
This information is for educational purposes and does not constitute financial advice.
