“It’s unregulated now, but that doesn’t mean it’s illegal,” said Bornyakov.Īlthough the crypto industry in Ukraine is unregulated and Ukrainians cannot register as crypto entrepreneurs and cryptocurrency exchanges, it is completely legal to mine and trade cryptocurrencies. “It was probably an attempt to make money by law enforcement officers,” Deputy Minister of Digital Transformation for IT Development Olexandr Bornyakov told the Kyiv Post.Īccording to him, officers mostly raid mining farms. Many crypto entrepreneurs and experts see eye to eye that most raids against miners and traders of cryptocurrencies don’t have any legal justification. Investigators claimed the suspects allegedly exchanged bitcoins for hryvnia using Forklog, but the service doesn’t even offer the ability to do so.Īrtem Afian, Kaplan’s attorney and managing partner at the law firm Juscutum, said that his client was innocent. and Ukrainian citizens who stole money from payment cards. Initially the SBU stated that the raid was connected to an investigation against the U.S. The SBU seized his equipment, accusing Kaplan of money laundering and transferring cryptocurrencies to Russia, as well as occupied Donbas and Crimea. The Security Service of Ukraine, or SBU, raided the home of Russian-born Anatoly Kaplan (Klimov), founder of a magazine about bitcoin, blockchain technology and the digital economy Forklog, on Dec. The court ordered law enforcement officials to give Chobanian back his equipment. Its joint statement with the National Securities and Stock Market Commision, and National Commission for Regulation in the Sphere of Financial Services Markets read that cryptocurrency can be identified “neither as cash or currency and legal tender of another country, nor as currency value, electronic money, securities, or a monetary surrogate”.Ĭhobanian’s court case ended up with his victory on Nov. Later, in 2017, the NBU ditched its 2014 references to cryptocurrency. But in 2014, the NBU had referred to cryptocurrency as a money substitute. In allowing Ukrainians to trade the cryptocurrency Bitcoin, officials claim Kuna was not in accordance with the National Bank. The exchange was a big factor in the raid. In 2015 he went on to launch an exchange for crypto assets, Kuna.io. In 2014, he founded KUNA, the first bitcoin agency in Ukraine and Eastern Europe.
(Kyiv Post)Ĭhobanian is a pioneer of the crypto domain in Ukraine. Olexandr Bornyakov, deputy minister of digital transformation, assumes that law enforcers raid cryptocurrency owners to probably get kickbacks. According to them, authorities don’t understand the concept. Tech entrepreneurs and people who mine cryptocurrencies complain about raids by law enforcement.
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