– Trading volumes on the Ukrainian crypto exchange Kuna have decreased by 90% since March 2023 due to government policies, according to the CEO.
– The National Bank of Ukraine (NBU) has requested financial statements from four local crypto firms, including Kuna, within seven days.
– The NBU has also demanded data on operating volumes and information about the reception and transfer of funds from these crypto businesses.
– Kuna CEO Michael Chobanyan confirmed the NBU’s request and expressed uncertainty about the reasons behind it.
– Chobanyan stated that the NBU’s actions have led Kuna to leave the business-to-customer market in Ukraine and caused a significant decrease in exchange volumes.
– Despite the hostility from Ukrainian authorities, Chobanyan sees potential benefits in focusing on the European market and recently launched the crypto acquiring service KunaPay.
– The NBU has not yet responded to requests for comment.