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Today in crypto, Telegram founder Pavel Durov left France and relocated to Dubai following approval from a French court. David Sacks and his venture capital firm sold over $200 million in crypto and crypto-related stocks before working for the White House. Meanwhile, Argentina has introduced new rules for crypto firms. 

Telegram founder Pavel Durov given permission to leave France

Pavel Durov, founder of the popular messaging app Telegram, has left France and relocated to Dubai following approval from a French court. 

On March 13, Durov reportedly received permission from the French court to depart the country, allowing him to travel to Dubai — a city known for its business-friendly environment and lack of extradition agreements with many nations — according to a Barron’s report citing unknown sources.

Citing unnamed sources, AFP reported that “He (Durov) departed France this morning,” adding that he left with the authorities’ approval. Another source stated that he had been granted permission to leave France for “several weeks.”

Sacks and his VC firm sold over $200M in crypto and stocks before WH role

David Sacks and his venture capital firm sold over $200 million in crypto and crypto-related stocks before he commenced his role as the White House AI and crypto czar, a White House memorandum disclosed.

“You and Craft Ventures have divested over $200 million of positions related to the digital asset industry, of which $85 million is directly attributable to you,” said the memorandum dated March 5.

The memorandum said “significant steps” were taken to reduce potential conflicts of interest before Sacks began his tenure as the White House AI and crypto czar — in which a major part of his role is to help create a legal framework for the crypto industry.

Sacks offloaded all the “liquid cryptocurrency” in his portfolio, as well as Craft Ventures' portfolio — the investment firm he co-founded in 2017 — including holdings in Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), before US President Donald Trump’s inauguration on Jan. 20.

Argentina finalizes rules for virtual asset providers

Argentina’s securities regulator has finalized rules for virtual asset service providers (VASPs), which cover general codes of conduct and custody requirements for cryptocurrency exchanges and other platforms facilitating digital asset transactions. 

The regulations were published on March 13 by the National Securities Commission, also known as CNV, under General Resolution No. 1058. 

According to a translated version of the announcement, the regulations impose “obligations regarding registration, cybersecurity, asset custody, money laundering prevention, and risk disclosure” on VASPs operating in the country.

The stated goal of the rules is to guarantee “transparency, stability, and user protection in the crypto ecosystem,” the announcement said.

Argentine tax lawyer Diego Fraga said the final guidelines include mandatory separation of company and client funds, annual audits and monthly reporting with the CNV. 

Source: Diego Fraga

Since 2024, VASPs operating in Argentina have been required to register with the registry of virtual asset service providers, also known as PSAV. According to the new rules, registrations may be revoked for noncompliance, and any company operating without registration may be blocked by court order.

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