Trustee Plus Halts Ukrainian Registrations, Shifts Focus to EU

As of May 20, the cryptocurrency wallet Trustee Plus has ceased registering new users residing in Ukraine. This was reported to ForkLog by representatives of the project.

The decision was attributed to regulatory uncertainty.

“There are many reasons, but the lack of legal certainty is the most significant. Officially, we have decided to postpone plans for expansion into the Ukrainian market and halt exploration of this market,” stated the Trustee Plus team.

The change does not affect already registered users and Ukrainians permanently residing in the EU as its residents. They continue to have unrestricted access to the wallet’s services.

“If you are not in a sanctioned jurisdiction, most services will be available to you except for the payment card, our joint product with Quicko,” added the project representatives.

The team did not specify when the situation might change for Ukrainian residents.

Earlier, Trustee Plus founder and CEO Vadim Grusha told dev.ua about the intention to fully focus on the European market, where regulatory frameworks are already in place.

The businessman expressed disappointment that the situation with the virtual assets bill in Ukraine remains uncertain.

“Every day waiting for the bill to pass is another day left behind global trends in the blockchain innovation sector,” noted Grusha.

On May 12, the Office of the President of Ukraine blocked consideration of the bill on cryptocurrency regulation in the country indefinitely. According to MP Yaroslav Zheleznyak, the decision was lobbied by the head of the NSSMC, Ruslan Magomedov.

Back in late January 2025, the Ukrainian bitcoin exchange Kuna announced its intention to cease operations in all countries. As of April 30, the platform completely halted operations and shut down its servers.

Kuna founder Mykhailo Chobanyan discussed his future plans with ForkLog as part of the “Podcast Society.”