Ukraine Will Shut Down Illegal Cryptocurrency Exchanges

Ukraine will shut down illegal cryptocurrency exchanges. Ukraine has been battling illegal crypto exchanges since the beginning of the year.

Ukraine has been working on the legalization of cryptocurrencies for almost a year. Recently, it was claimed that they prepared a new draft law on the issue of making payments via cryptocurrencies. According to the statement made by the Security Service of Ukraine (SBU), the network of cryptocurrency exchanges operating in a "covert/informal" manner has been located in the capital of the country, Kiev. According to the statement, in connection with criminal activity, the network had a monthly turnover of $1.1 million. In the announcement of the SBU, attention was also drawn to the risk that cryptocurrency exchanges operating illegally could serve the black economy through activities such as money laundering. In addition, the Security Service of Ukraine pointed to the traffic of funds returned through these platforms to organize protests across the country. According to the Security Service of Ukraine, these illegal funds came from e-wallets linked to banned Russian payment processors such as Qiwi, WebMoney and Yandex.   You may also be interested in: President of Argentina Made a Statement About Bitcoin