TON, the native token of TON, fell by 7% after Telegram CEO Pavel Durov reported that he has some legal issues in France. According to various sources, Durov has been accused of 12 crimes, some of which are connected to cryptocurrencies.
Toncoin’s price fell to $5.08, a 35% drop from its June high, following Pavel Durov’s arrest at Le Bourget Airport. Rumors suggest the charges against Durov involve unlawful cryptology services and unregistered tools related to TON’s blockchain platform.
TON Drops 7% as Pavel Durov Faces 12 Legal Charges in France
Toncoin Price Chart | Source: CoinMarketCap
Other charges attributed to Durov also include money laundering and failure to cooperate with the authorities. If convicted, he could be put behind bars for up to 20 years.
However, these charges are not yet substantiated and there are still ongoing investigations. Durov may stay in custody until August 28 as the situation unfolds.
The news has brought a lot of criticism from different personalities such as Elon Musk and Justin Sun who consider the charges as a violation of the privacy rights of individuals. Some critics point out that the allegations against Durov are false and can be used to prosecute other tech entrepreneurs.
As the legal process continues, the future of Toncoin and The Open Network may be on the line. Telegram has 900 million users, and TON’s success depends on integration with it.
As for Durov’s supporters, they expect a happy ending, although the outcome may affect the development of cryptocurrencies and the fight for privacy rights.
For now, the crypto world is waiting to observe how this legal battle will affect Toncoin and its position in the digital space.