KUNA, a Ukrainian crypto exchange that has been operating in the crypto industry for almost 11 years, is ceasing commercial operations not only in Ukraine but also worldwide. Kuna founder Mykhailo Chobanyan announced these intentions.
KUNA, a Ukrainian crypto exchange that has been operating in the crypto industry for almost 11 years, is ceasing commercial operations not only in Ukraine but also worldwide. Kuna founder Mykhailo Chobanyan announced these intentions.
«I am terminating all commercial activities of the crypto exchange as of today. KUNA is completely winding down its activities in all countries,» Mykhailo Chobanyan said on his Telegram channel. He emphasized that there is no talk of selling the crypto exchange.
The founder of the crypto exchange made a similar statement after the decision of the Shevchenko Court of Kyiv on January 23 at the request of the Bureau of Economic Security of Ukraine, according to which the State Service for Special Communications sent a letter to all communication operators stating that the blocking of KUNA had begun.
Mykhailo Chobanyan noted that crypto exchange clients will have about a two-month transition period so that they can withdraw their assets.
«As I have told you repeatedly throughout this journey, do not store your money on centralized services, including KUNA. As long as it is there, it is not your money,» the founder of the crypto exchange noted.
Chobanyan also added that business is currently distracting him and preventing him from «entering this new world order in a neutral status.» The founder of KUNA plans to free up the space occupied by the crypto exchange for «something interesting and new — Symbiocracy.» He said that he is currently only interested in the IT industry domain, in which private or state-owned enterprises create software.
«GovTech is the next area that interests me. Everything related to technology, artificial intelligence, and human development,» Chobanyan noted.
Last summer, he noted that the Ukrainian cryptocurrency market was effectively dead due to restrictions on crypto transactions.
And in the spring of 2024, it was reported that KUNA could sell its Ukrainian business and focus on the EU market. The crypto exchange has already held initial talks with potential investors. However, the company also named three other options.
On January 27, Kuna users reported receiving an email notification that the service was blocked in Ukraine. Internet service providers have already begun to comply with the relevant order of the State Service for Special Communications.
A couple of days after that, the BEB explained why the work of the oldest Ukrainian crypto exchange Kuna was blocked, and also reported that the department was conducting an investigation into tax evasion by the Kuna crypto exchange group of companies.
