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The regulator said it had received information that messages containing stock tips and other investment advice with respect to selected listed companies are being widely circulated through websites and social media platforms such as Telegram, Facebook, WhatsApp and Instagram. Telegram was co-founded by Pavel and Nikolai Durov, the brothers who had previously created VKontakte. VK is Russia’s equivalent of Facebook, a social network used for public and private messaging, audio and video sharing as well as online gaming. In January, SimpleWeb reported that VK was Russia’s fourth most-visited website, after Yandex, YouTube and Google’s Russian-language homepage. In 2016, Forbes’ Michael Solomon described Pavel Durov (pictured, below) as the “Mark Zuckerberg of Russia.” "He has to start being more proactive and to find a real solution to this situation, not stay in standby without interfering. It's a very irresponsible position from the owner of Telegram," she said. Oleksandra Matviichuk, a Kyiv-based lawyer and head of the Center for Civil Liberties, called Durov’s position "very weak," and urged concrete improvements. Following this, Sebi, in an order passed in January 2022, established that the administrators of a Telegram channel having a large subscriber base enticed the subscribers to act upon recommendations that were circulated by those administrators on the channel, leading to significant price and volume impact in various scrips.
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