America: telegram will bring cryptocurrency

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Washington, New York Times. Veteran social media firm Facebook is currently facing the scrutiny of various government agencies regarding its cryptocurrency that another social networking platform has stepped up.

Investors associated with the messaging platform Telegram say that the company is preparing to bring its cryptocurrency in the name of ‘Gram’ soon.

Telegram has told its investors that its digital currency could be revealed in the next two months. The company is also preparing to launch a ‘Gram Digital Wallet’ for all its users.

Telegram has kept all information and procedures in this regard confidential. In such a situation, it will also be interesting to see how the government agencies react to this and how far the preparation of Telegram is able to go.

Experts say that every company preparing to bring such digital currency should be cautious.

Government agencies in America are very strict about this. Facebook also recently informed about the launch of its digital currency ‘Libra’. However, its plan is currently targeted by government agencies.

Investigative agencies believe that such digital currency will benefit drug addicts and people engaged in money laundering.

US agencies have also moved towards closing several small companies trying to run cryptocurrencies, citing violations of security regulations.

What is a cryptocurrency?
Cryptocurrency is a digital currency. Actually it has no physical presence. Software code is used as currency in this.

So far no country has recognized such currencies. The transactions in this are so secure that it is almost impossible for the investigating agencies to detect.

Recently some terrorist organizations have also tried to raise funds through cryptocurrency.