Recently, the cryptocurrency application "Crypto Wallet" built into Telegram announced that due to global regulatory pressures, access restrictions have been implemented in several countries and regions, including the Philippines. Filipino users are now unable to use the wallet function, a move that has quickly attracted high attention from the industry and users.
Crypto Wallet, operated by TG Wallet Inc. registered in Panama, originally allowed users to directly recharge, withdraw, transfer, and conduct peer-to-peer transactions with cryptocurrencies within Telegram. However, the latest restrictions not only affect the Philippines but also include the United States, most EU countries, and several countries and regions in Africa, the Caribbean, and Asia-Pacific. Official warnings state that if users attempt to bypass the block using VPNs, their accounts may be subject to stricter monitoring or scrutiny.
This move is widely interpreted as a response to the global trend towards compliance in the cryptocurrency industry. The Philippine Securities and Exchange Commission (SEC) has recently intensified its regulation, blocking several unregistered exchange websites, and plans to fully implement regulations for Cryptocurrency Asset Service Providers (CASP). The industry believes that the blockade of Crypto Wallet for Filipino users is a proactive response to this new regulatory storm.
It is understood that Crypto Wallet is a custodial wallet, with user private keys managed by the platform, supporting mainstream tokens such as TON and USDT, allowing internal transfers without fees and without the need for blockchain confirmation, but it does not currently support NFTs and all Jettons tokens. In contrast, another application in the Telegram ecosystem, TON Wallet, is a non-custodial wallet, where users control their private keys, offering more open features but with a higher barrier to entry.
TG Wallet Inc. emphasized in the announcement that it will strictly comply with international "Anti-Money Laundering" (AML) and "Know Your Customer" (KYC) standards, and may require users to submit identity information in the future to restore some functions. The wallet was originally named "Wallet" and was renamed "Crypto Wallet" on July 10, 2025. Although deeply integrated with Telegram Messenger, the two are not directly affiliated legally or operationally.
As cryptocurrency regulation becomes increasingly strict, the future operational modes, compliance strategies, and impacts on user assets of Telegram's wallet products remain to be further observed.
