Telegram Wallet Update: New Identification Rules
Telegram Wallet has recently updated its user identification rules, with new requirements set to take effect on June 3rd. Under the «Know Your Customer» (KYC) initiative, cryptocurrency wallet owners will now need to provide basic information about themselves to access most functions. The information required includes the user’s name, phone number, and date of birth. However, the new requirements do not apply to withdrawal operations.
According to the updated rules, users who complete the basic level of identification will be able to receive incoming payments of up to €3500 ($3780) per day and €35,000 (around $37,800) per month without the need for additional documents. This means that for transactions within these limits, providing basic personal information will be sufficient.
For users who require higher transaction limits, up to €100,000 (approximately $108,000), confirming their residential address will be necessary. This additional level of verification is aimed at those conducting large transfers or receiving significant sums of money.
It’s important to note that these changes will not impact the TON Space sub-wallet, which enables decentralized exchange and the transfer of non-fungible tokens. This wallet will continue to function without changes in the identification system.
Furthermore, Pavel Durov, the founder of VKontakte and Telegram, has announced plans to reward content creators with Toncoin tokens through Telegram Wallet and introduce the use of cryptocurrency for purchasing goods. This will provide an additional layer of functionality and convenience for platform users.
