The launch of Telegram Open Network (TON) has caused different reactions within the crypto community, so knowing the terms and conditions allows us to cling to some bases to analyze this new cryptocurrency project

After a round of financing in which USD 1.7 billion was obtained last year and maintaining complete silence since then, Telegram finally published the terms of use of its crypto Wallet, Grams Wallet.

Finally, Telegram has made public its participation in the TON, this by mentioning it and its tokens in the terms of service (ToS) for the wallet. In this way, according to what the courier company has indicated on its website, Telegram will integrate the wallet into the messaging application and also offer it as an independent product of the same.

It is worth noting that the document makes it very explicit that the developers of the TON network have the full authority to decide to close, terminate or disable any or all services, a user’s account or access to services “at any time and for any reason”.

Also, this document highlights 10 key points of the Terms of Service, of which we will highlight the most important.

  1. Eligibility: To be able to access the new service offered by Telegram, you must be at least 18 years of age or older, and you can only use it if you are not in a country for which there is some type of prohibition.

Linked to the above, Telegram also emphasized that it is its users who must be responsible for determining the taxes that apply to the use of Gram services.

Telegram expressed:

“We are not responsible for determining whether taxes apply to transactions you make using the Services or to collect, inform, withhold or remit taxes arising from transactions in virtual currency.”

2. Modification: This includes precisely what was mentioned above, Telegram reserves the right to modify the terms and conditions set forth herein at any time. Therefore, the company advises to stay informed.

According to what is established on the website, Grams Wallet does not have any control over the Telegram Open Network blockchain, in terms of ensuring that any transaction details that have been sent through the services are subsequently validated and confirmed by the TON Blockchain. Therefore, they are adrift, which is necessary to remember.

The firm said:

“The transactions you send through the Services may not be completed or TON Blockchain may be substantially delayed. We have no control over TON Blockchain and we do not have the ability to facilitate any request for cancellation or modification of the transactions you have sent. “

3. 100% Privacy: The terms and conditions clarify that Grams Wallet will not access or store public or private keys, passwords, or any other private information of its customers. Here it emphasizes the importance that individuals should have in managing and maintaining the security of their credentials.

Again, users would be alone if they lost their passwords or passwords because the company will not have access to recover it, much less reestablish them, so it is advisable to be very careful with the handling of your data.

Telegram explained in the ToS:

“You are solely responsible for administering and maintaining the security of your Credentials. If you lose your Credentials, we don’t have the ability to retrieve your Credentials or help you recover your Credentials, and you may not be able to access your Grams.”

Telegram users remain in expectation of the flow of information that revolves around their cryptocurrency, while eagerly awaiting its debut.

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