Third-party application Wallet in Telegram temporarily restricts use by UK users until receiving FCA permission.

Odaily Planet Daily News According to the third-party application Wallet in Telegram, it will temporarily restrict the use of its Wallet function by users in the UK (due to the reorganization process of the application joining the Open Platform), and it will be available after the entity is registered as a corporate asset provider. The company stated that it has decided to register as an encryption asset provider in accordance with the current regulations of the UK FCA, and will disable the in-app Wallet function for UK residents until the company behind the Wallet application obtains appropriate regulatory approval. In addition, Wallet in Telegram users in the UK can withdraw funds to an external Wallet for free during this period and will provide updates on the account. The Wallet in Telegram is not operated by Telegram. Its FCA application is a separate decision from another organization, unrelated to the case involving Pavel Durov and other policy changes of Telegram. At the same time, US users are also unable to use Wallet in Telegram due to financial regulatory restrictions. (Cointelegraph)