The banning of the app based on the fact that it refused to open up its privacy to the socialist country shows that the Russian regulators are trying to clamp down even further on freedom of expression in the controlling nation.
Problem for ICOs
Russia has already got quite a rocky relationship with cryptocurrencies, especially with ICOs. The country has clamped down on the cryptocurrency market in recent times, banning access to Bitcoin exchanges and the likes.
Now, with ICOs and other cryptocurrency businesses already facing difficult times in operating, an important means of communication has been cut off to them. Many, if not all ICOs, now operate a communication channel or group through Telegram, so for those operating in Russia, they will now have difficulty using this.
Problem for Telegram
Telegram’s ICO which was offered to a much more exclusive list has also been shown to be one of the biggest and most successful if SEC files are to be believed. According to the SEC, the ICO from Telegram raised as much as $1.7 bln.
Ways around it
The band, which has apparently come around because Russia is trying to infiltrate terrorist messages, will affect a large portion of the population, involved in cryptocurrencies or not.
However, there are of course ways around the ban, with tools like VPNs and the sort able to scramble the location of a user so that they do not fall under the geographical block.