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Swedish Foreign Minister Urges Ukraine to Investigate $70 Million Bitcoin Fraud

News The Swedish government is reacting to an alleged Bitcoin fraud scheme that targeted vulnerable people in Sweden, Australia, New Zealand and the U.K. Ukrainian officials were informed of the allegations in a meeting on March 2, according to an Organized Crime and Corruption Reporting report pu..

Ukraine’s Officials Will Need to Report Crypto as ‘Intangible Assets’

News The Ukrainian National Agency on Corruption Prevention (NACP) detailed how cryptocurrencies must be reported on yearly income declarations. Cryptocurrencies are categorized under the “intangible asset” section, though they are also mentioned by name. On March 2, the agency published a set of ..

Whistleblower Outs ‘Wolf of Kyiv’ for $70 Million Bitcoin Scam

News A whistleblower has revealed the existence of a 200-employee Ukrainian Bitcoin (BTC) trading scam that netted $70 million in 2019. The whistleblower outed the scam by providing footage and internal company documents to Swedish newspaper Dagens Nyheter, which reported the news on March 1. Th..

CBDC Push Takes Ukraine Closer to Crypto Adoption

Analysis At a press conference held on Feb. 21, a representative for the National Bank of Ukraine released the results of its much-hyped central bank digital currency project called the e-hryvnia. However, the banking institution is still not certain of the impact this financial offering will have..

IT Exec at Kyiv Prosecutor’s Office Illegally Mined Crypto on Office Systems

News In Kyiv, Ukraine, investigators have found another example of someone using the systems at their workplace for illicit cryptocurrency mining. The Kyiv Prosecutor’s Office official Facebook page announced on Feb. 26 that it concluded a pre-trial investigation against an unnamed individual in ..

Presumed Guilty: Financial Watchdogs See Crypto as Illicit by Default

Analysis Recently, financial regulators around the world have been growing concerned about the role of cryptocurrency in money laundering and financing of various illicit activities. The first two months of 2020 saw many governments acting on these concerns and introducing a variety of legal measu..

Ukraine’s Central Bank: E-Hryvnia Threatens Landscape of Banking System

News Despite considerable testing and research, the prospect of a central bank digital currency (CBDC) still raises significant concerns for bankers in Ukraine. At a Feb. 21 conference in Kyiv, the National Bank of Ukraine (NBU) presented the results of testing its CBDC project, the e-hryvnia, no..

First Ukrainian Bitcoin Exchange Launches Hryvnia-Pegged Stablecoin UAX

News In an apparent first, Ukrainian cryptocurrency exchange Kuna has released a stablecoin pegged to local fiat currency, the Ukrainian hryvnia (UAH). Dubbed UAX token, the new stablecoin is pegged to the hryvnia on a 1:1 ratio and is based on the Ethereum blockchain, according to an official ann..

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