Ukraine | ForkLog

ForkLog 57 24.12.2024

Russian Authorities Arrest S-Group Founders Over $100 Million Fraud

Russian police have dismantled the operations of Sincere Systems Group LTD (S-Group), suspected of defrauding clients of over $100 million under the guise of investments. This was reported by the Ministry of Internal Affairs of Russia. According to case materials, S-Group, established by Ukrainian citizens, has been operating in Russia since 2020, with branches in […]

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ForkLog 8 21.12.2024

Potential Shift in Ukraine’s Cryptocurrency Market Regulator

The IMF has postponed the deadline for developing updated legislation on the regulation of virtual assets in Ukraine from the end of December 2024 to the end of February 2025. The responsibility for drafting the regulatory document remains with the NBU and the NSSMC.

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ForkLog 31 19.12.2024

Ukrainian Financial Institutions Endorse P2P Transfer Restrictions

A memorandum imposing restrictions on outgoing transfers without documented sources of funds has been joined by 23 Ukrainian banks and two payment systems, according to a report from the Association of Ukrainian Banks (AUB). In addition to financial companies NovaPay and RozetkaPay, the signatories include: Ukreximbank; Ukrgasbank; KRISTALBANK; Globus Bank; MTB Bank; Radabank; Idea Bank; […]

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ForkLog 12 12.12.2024

Ukraine to End Tax Breaks on Bitcoin Transactions

An updated bill on the regulation and taxation of virtual assets is set to be ready for consideration in the first quarter of 2025, according to a statement by the head of the tax committee of the Verkhovna Rada, Daniil Hetmantsev, as reported by Ekonomichna Pravda. According to the deputy, the working group is finalizing […]

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ForkLog 26 11.12.2024

Monobank Co-founder Discusses Future of Bitcoin Cards in Ukraine

The team behind Ukraine’s monobank has not ruled out the possibility of reviving their previously proposed cryptocurrency card project in 2025. This was stated by the bank’s co-founder, Oleg Gorokhovsky, in an interview with the YouTube channel “Bombardier.” In July 2021, monobank announced plans to issue bitcoin cards that would allow the bank’s clients to […]

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ForkLog 28 10.12.2024

Ukrainian Banks Tighten Limits on Outgoing Transfers

Ukraine’s largest banks have signed a memorandum imposing restrictions on outgoing transfers without documentary proof of income, according to RBC-Ukraine. The new rules have been approved by monobank, Oschadbank, OTP Bank, PrivatBank, PUMB, Raiffeisen Bank, Tascombank, and Universal Bank. The memorandum remains open for further signatories. For high-risk clients, the limit is set at 50,000 […]

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ForkLog 13 27.11.2024

Ukrainian Security Service Colonel Sentenced to 10 Years for Extorting Illegal Miners

On November 27, Ukraine’s High Anti-Corruption Court found an operative of the DCIB SBU guilty of extortion and receiving $60,000 in cryptocurrency for the return of equipment to illegal miners. According to case materials, in July 2022, the SBU officer demanded a bribe of $60,000 from an entrepreneur in exchange for assistance in returning ASIC […]

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ForkLog 11 14.11.2024

Ukrainian MP Sentenced to Eight Years for Attempted Bitcoin Bribery

On November 14, Ukraine’s High Anti-Corruption Court sentenced MP Andrey Odarchenko in absentia to eight years in prison with confiscation of property for attempting to offer a bribe in bitcoin, according to Transparency International Ukraine. The MP left Ukraine before the trial proceedings began but participated in the session online. The prosecution alleged that in […]

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ForkLog 8 14.11.2024

Ukrainian MP: 42% of New Cryptocurrency Law Agreed Upon

The Ukrainian law “On Virtual Assets,” with new amendments addressing the requirements of the FATF and MiCA, is undergoing coordination with the participation of the Ministry of Digital Transformation, the NBU, and the NSSMC. This was reported by Member of Parliament Yaroslav Zheleznyak on his Telegram channel. According to him, the working group has so […]

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ForkLog 14 16.10.2024

Ukrainian Central Bank Dismisses Cryptocurrency as Legal Tender

The National Bank of Ukraine does not recognize cryptocurrency as legal tender and asserts that the digital asset market requires legislative regulation. This was stated by the head of the regulator, Andriy Pyshnyy, in an interview with Interfax-Ukraine. Following the imposition of restrictions on P2P transfers, capped at 150,000 UAH per month, experts noted a […]

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ForkLog 8 13.10.2024

Ukrainian Officials Increasingly Embrace Cryptocurrencies, Says NACP

The head of the NACP, Viktor Pavlushchik, highlighted the growing popularity of digital assets among Ukrainian officials in an interview with Glavcom and discussed methods for tracking crypto assets. “Each year, the amount of funds declared in cryptocurrencies increases. They are used by both the general population and public officials. A few years ago, no […]

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ForkLog 21 11.09.2024

Ukraine and Russia Among Top 10 in Global Crypto Adoption

Ukraine and Russia have secured the sixth and seventh positions, respectively, in the 2024 Global Crypto Adoption Index by the analytics firm Chainalysis. Our 2024 Global Crypto Adoption Index is here! The top 10 countries spanned 5 continents, but Central & Southern Asia and Oceania (CSAO) dominated the list. Read on to see the top […]

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