Russian security services ordered Telegram to hand over access to encrypted user messages, but the messaging application (app) refused. Founder Pavel Durov didn’t bother to send lawyers to Moscow’s Tagansky court, and the court dutifully ruled against his company, taking less than 20 minutes in decreeing an immediate ban.

Also read: CBS’s NCIS Los Angeles Weaves Stolen Bitcoin Into Script, LL Cool J Is on the Case

Russian Court Bans Telegram
Dmitri S. Peskov, Kremlin spokesperson, stressed, “There is a certain legislation that demands certain data to be passed to certain services of the Russian Federation.” Judge Yulia Smolina agreed, ruling, “The ban on access to information will be in force until the [Federal Security Service’s] demands are met on providing keys for decrypting user messages,” TASS reported.

Roskomnadzor, a censuring media body responsible for attempting to ban everything from Github to pornography to white nationalist websites, evidently made the most vigorous appeal in urging the court to shutter Telegram. Last month, the company appealed before the Supreme Court over Russia’s Federal Security Service’s (FSB) 800,000 ruble fine. The FSB ordered Telegram to decrypt messages in accordance with relatively recent anti-terrorism laws. “We don’t do deals with marketers, data miners or government agencies. Since the day we launched in August 2013 we haven’t disclosed a single byte of our users’ private data to third parties,” a Telegram blog post insisted.

The only comment made at press time by Pavel Durov, regarding 13 April’s decision, came in a post to his personal Telegram channel, and it seemed every bit defiant as the 33 year old, “The power that local governments have over IT corporations is based on money. At any given moment, a government can crash their stocks by threatening to block revenue streams from its markets and thus force these companies to do strange things (remember how last year Apple moved Icloud servers to China). At Telegram, we have the luxury of not caring about revenue streams or ad sales. Privacy is not for sale, and human rights should not be compromised out of fear or greed.” Mr. Durov is a native Russian, but bailed in 2014 after his first enterprise, a social networking site called Vkontakte (VK), he claimed, was taken over by Putin in retaliation to Mr. Durov’s then-refusal to hand over user information as well.

Legal Setback for a Company Thriving
Though Telegram has formal appeal rights, the court ruled with a sense of urgency, allowing the Roskomnadzor to take immediate action against the company. An irony not lost on officials is that they too use Telegram for communication purposes, and that includes President Putin’s own press office. Rumors are that it will move to Viber.

Russian Court Bans Telegram, Pavel Durov Defiant

Telegram’s lawyer, Pavel Chikov, warned, “[Russia has] demonstrated again and again that the court system is devoted to serving the interests of the authorities. They no longer even care about basic external appearances.” Though both Facebook and Google have butted heads with Russian authorities, Telegram is only the second universal platform to be formally banned (Linkedin was the first).

Other than legal woes, the company has been on something of a growth spurt of late. It recently celebrated 200 million users, and is presently raising billions in what is being called the biggest initial coin offering so far.

Do you think Telegram will be impacted by the ban? Let us know in the comments section below.

source: https://news.bitcoin.com/russian-court-bans-telegram-pavel-durov-defiant/

This topic has been moved to Off topic.

https://www.altcoinstalks.com/index.php?topic=14726.0

This topic has been moved to Off topic.

https://www.altcoinstalks.com/index.php?topic=1114.0

This topic has been moved to Off topic.

https://www.altcoinstalks.com/index.php?topic=14770.0

May isang kasabihan Ito ay kung bakit hindi tayo nagkakaroon ng magagandang bagay.

Mayroon talagang mga taong sinusubukang mandaya sa sistema.

Sa forum na ito kung napapansin nyo meron tayong madaling ranking up system, hindi na kailangang maghintay ng ilang buwan para magpa rank up...

Ito ang dahilan kung bakit may mga nang-aabuso para lang maka rank up, ang pagbibigay sa mga taong ito ng negative karma ay hindi makakapagpapigil sa kanila na i-improve ang kanilang kontribusyon.

Halimbawa meron akung nakita na account na may 1 o 2 na salita, para lang madagdagan ang post count. Kahit isang account na nagrereply ng "This is great" para sa mga practical na rason.

Kung may makita kang ganyan na post, paki pm si admin, o e send mo sa kanya ang link sa kanyang post.

Ang penalty ay reduction sa post counts, kaya mawawalan o makakabawas sa rank.

Ang sino mang magpost ng low quality replies na madalas o mga threads na may duplicated content o quoting sa mga nakaraang text, ay makakaranas ng ganitong penalty.


Aking Advise:
Kung gusto nyong magparank up, wala talagang problema, at walang magagawa si admin dyan, pero dapat magparank na may quality posts. Hindi Shit post!

Pinaka magandang option:
1. Mag post ng question/answers sa inyung local langauge.
2. Makibahagi sa mga discussions, ibigay mo ang iyong opinion.

Credits: admin
Original thread: https://www.altcoinstalks.com/index.php?topic=13796.0

MANILA - The Philippine National Police-Criminal Investigation and Detection Group (PNP-CIDG) has arrested a couple believed to be leaders of an investment scam using bitcoin to lure investors.

Arnel Ordonio, 27, and his wife Leonady Ordonio are the registered owners of NewG, a company allegedly soliciting investments from unsuspecting investors.

Rotskie Bautista said he was enticed by his friend to invest money last October.

“Mas malaki investment mas malaki pasok ng income kasi parang almost umaabot ng 100 percent a month ang kita,” Bautista said.

At first, Bautista said he was happy with the return on investment. Later on, he noticed the payment stopped coming in.

“October to November good siya, kasi as in minsan advance pa. Walang delay, advance pa so buti nga nung time ng December, bago ma-delay ang sahod or mawala ang sahod nakapag-pullout pa kami kahit papaano,” Bautista said..

Atty. Maggie Abraham, legal counsel of the 20 victims, said 11 have filed a complaint at the Marikina City Prosecutor’s Office.

Among the respondents listed in the complaint are Arnel Ordonio, Leonady Ordonio, Angelo Ordonio, Jowell Ordonio Aujero and Gerald Manalang.

“Bitcoin is being used to get investment parang yun yung way of enticement through the investors. So, for 16 days, iba-iba ang
clients, iba-iba ang amounts eh. Yung parang P25,000 mo is magiging P50,000 in 16 days. Kumbaga ang laki nung returns mo parang half makukuha mo kaagad so in just 1 month may ROI ka na kaagad,” she said.

Since investing in bitcoin is the new trend, many of the victims were excited to put in money.

“Maganda ‘yung way of enticement tapos parang 1 year. Kasi June nag-start yung client ko. More or less 1 year, naka-comply itong Arnel tapos ipapadala mo yung pera through coins.ph. May tinatawag na coins wallet, so doon naka-attach sa complaint namin yung screenshot na pinadala kay Arnel doon sa wallet id nya sa coins.ph,” Abraham said.

Abraham said Ordonio acted deceitfully since his company was only registered as a computer shop and not as an investment company.

“We only found out na computer shop ang nature ng business pero all the while he has been inviting investors through online na mag-invest sa company niya, 16-day investment,” she said.

“Makikita kung paano ginagamit yung bitcoin or online scamming sa isang crime. They used parang a wallet id sa isang online application which is coins.ph. The problem is, number 1, iyung company niya is not engaged in the business of accepting investments from the public,” she added.

Abraham said the investors did not know for sure if Ordonio invested their money on bitcoins.

“Actually that is a question kung ininvest niya o hindi kasi wala namang proof,” she said.

The suspect’s scheme was to employ upline and downlines in the so-called bitcoin investments, which covers the entire country.

“Yung upline mo yung downlines niya isipin natin kung merong 20 downlines yung 50 o andami nun, ilan na kaagad yun. Hindi lang
taga-Luzon yan, may mga taga-Visayas at Mindanao. There was even one upline na meron siyang downlines sa Davao, so ibig sabihin buong Pilipinas iyan,” Abraham said.

“Yung iba, may mga upline na nagsend ng demand letters, merong mga P300 million kasi nag-ro-rollover sila ng investments. Sa roll-over parang hindi muna nila kinukuha investments nila as capital para mas malaki yung profit na nakuha nila so naging malaki yung capital,” Abraham added.

Bautista said he and his friends joined and pooled in money so their investment will grow faster.
 
“Kasi ngayon meron pa rin nag-te-trading which is legit so pag iisipin kasi nagsulputan talaga yung mga mining and trading ng bitcoin, so kami naman dahil ayaw namin mag operate ng sarili namin, nag invest na lang kami sa nagte-trading. At the same time yung tropa namin na nagyaya sa amin,” Bautista said.

Bautista’s group alone invested a total of P15 million. He believes they will no longer be able to get their money back.
 
“Sa palagay ko medyo malabo na kasi nandiyan na siya. Kahit nakakulong siya hindi natin alam kung saan niya kukunin ang pera kasi nakarating sa amin na tsinek ang mga accounts niya is zero na daw then yung mga properties niya is isa isa na binatak nung mga ibang investors, mga sasakyan niya, luxury cars wala na rin,” Bautista said.

“Mahapdi pa rin syempre kasi kahit naman isipin natin mahirap kitain ang ganung kalaking pera kaya that's why nandito kami if ever mahabol pa rin pera,” Bautista added.

source: http://news.abs-cbn.com/news/04/06/18/couple-arrested-for-alleged-bitcoin-investment-scam

MANILA, Philippines - The Bangko Sentral ng Pilipinas has approved the registration of two companies to engage in the operation of bitcoin exchanges as part of efforts to regulate the fast growing but potentially risky virtual currency industry.

BSP Governor Nestor Espenilla Jr. said during the FinTech Thought Leadership Roundtable Series presented by FINTQ, the central bank has given the two companies the green light to operate bitcoin exchanges.

“They are local based but they have international roots,” Espenilla said.

Bitcoin is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. People could buy and sell bitcoins by tapping dealers or brokers or going to bitcoin exchanges.

Holders could also look for services or goods whose merchants accept bitcoin payments.

Last January, the BSP issued Circular 944 laying down the guidelines for virtual currency exchanges. It is the policy of the central bank to provide an environment that encourages financial innovation while at the same time ensure that the Philippines will not be used for money laundering or terrorist financing activities and that the financial system and financial consumers are adequately protected.

Thus, the regulator recognizes that virtual currency systems have the potential to revolutionize the delivery of financial services, particularly for payments and remittance, in view of their ability to provide faster and more economical transfer of funds, both domestic and international, and may further support financial inclusion.

“We see a rapid increase in the trajectory. It is coming from a small base but increasing that is why we decided to require them to register,” Espenilla said.

The BSP chief said volume has more than doubled to about $6 million per month from only $2 million per month the previous year.
Advertisement   

    Powered By YuMe
“That is the importance of putting them under the regulatory framework. They have to comply with it. We are moving to regulate them,” he said.

The BSP circular states virtual currency exchanges providing a facility for the conversion or exchange of fiat currency or government-issued currency to virtual currency are considered similar to remittance and transfer companies and should be covered by Republic Act 9160 or the Anti-Money Laundering Act of 2001.

Meanwhile, Espenilla said the BSP is also set to issue an information technology (IT) risk management framework to upgrade its basic framework under Circular 808 issued in 2013.

“It will have enhanced expectations on cybersecurity risk management, that is one. It will further open up the use cases for cloud technology in banking applications, and the third one it if further strengthen the governance responsibilities of the banks boards and management to make sure that the IT systems of their institutions are robust and resilient to cyber crime as well as disasters,” he said.

According to him, banks invested heavily level up their IT management.

“Banks today are less concerned about regulatory requirements for their own risks. Even without regulations, a bank is very vulnerable to cybercrime and can lose money much more than any other penalty,” he said. 


Read more at https://www.philstar.com/business/2017/08/18/1730418/bsp-approves-registration-2-bitcoin-exchange-operators#WrexjuRCmyMBbScl.99

---