In 2018, Russia banned Telegram although it reversed the prohibition two years later. Fridayโs performance was part of a larger shift. For the week, the Dow, S&P 500 and Nasdaq fell 2%, 2.9%, and 3.5%, respectively. These entities are reportedly operating nine Telegram channels with more than five million subscribers to whom they were making recommendations on selected listed scrips. Such recommendations induced the investors to deal in the said scrips, thereby creating artificial volume and price rise. In a message on his Telegram channel recently recounting the episode, Durov wrote: "I lost my company and my home, but would do it again โ without hesitation." Under the Sebi Act, the regulator has the power to carry out search and seizure of books, registers, documents including electronics and digital devices from any person associated with the securities market.
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