Ukraine busts shadow financial network with crypto operations, seizes 630M hryvnia
- —More than 30 raids conducted across 16 regions of Ukraine
- —Over 630 million hryvnia seized in various currencies, including Russian rubles
- —The network moved tens of billions of hryvnia annually, according to the BES
- —Operations were unlicensed and kept off accounting and tax records
Why it matters: The case signals a crackdown on unlicensed crypto exchangers in Ukraine, potentially tightening compliance requirements for local crypto services.
Source: Incrypted