Telegram Wallet will be temporarily restricted for UK users due to a corporate restructuring, the popular messenger said in an announcement.

The company said it is currently in the process of registering as a cryptocurrency asset provider under the current rules of the UK Financial Conduct Authority (FCA). Therefore, until Telegram receives the appropriate licenses from regulators, UK residents will not be able to use the built-in crypto wallet features. However, during this time, they will be able to withdraw funds to other addresses without fees.

The changes in the policy and features of the popular messenger will affect all its users. Recently, Telegram representatives announced that they will begin to transfer user data to law enforcement agencies in the event of a “reasonable legal request” from the authorities. We are talking about phone numbers and IP addresses.

Such radical changes have raised concerns about the protection of users' confidential data and the fight against censorship. However, the founder of the messenger Pavel Durov assured that the innovations should protect the platform from fraud.

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