Ukraine Central Bank Demands Financial Data From Kuna, CoinPay, GEO Pay And Qmall

The Ukrainian government is requesting financial data from the domestic cryptocurrency sector.

The central bank of Ukraine asked four local crypto companies — Kuna, CoinPay, GEO Pay, and Qmall — to submit financial statements for the first two quarters of 2023.

Kuna founder and CEO Michael Chobanyan shared the news of this latest request from the National Bank of Ukraine (NBU) on July 3, citing a document circulated by a Ukrainian news network.

Per the document, NBU asked the crypto firms to provide data on operational volumes and details about the receipt and transfer of funds.

Also Read: Dubai's Crypto Licencing Race Heats Up As Nomura's Laser Digital Gets Green Light

The Ukrainian crypto companies have also been asked to issue statements for all accounts since the start of 2023.

Chobanyan confirmed the news on his own Telegram channel, suggesting that the reasons behind the NBU's latest move are not clear.

“There is no such information in Ukraine and has never been,” he argued, adding that his research showed that this was the case even before Kuna's launch in 2015.

He further stated that the government's direction is clear, saying:

“Over the past two weeks, the first wave of searches in exchanges took place in Kiev and across Ukraine, which were triggered by the actions of the NBU, Ministry of Internal Affairs, and the Security Service of Ukraine. [...] There will be more searches and exchanges.”

Read Next: Coinbase's New Futures Exchange Takes Bite Out Of Crypto Market

Join Benzinga's Future of Crypto in NYC on Nov. 14, 2023 to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!