The company emphasizes that the NBU's decision sets a precedent for the crypto market, effectively banning P2P interaction between users, and also calls into question the operation of euro-denominated balances on their platform.
The company emphasizes that the NBU's decision sets a precedent for the crypto market, effectively banning P2P interaction between users, and also calls into question the operation of euro-denominated balances on their platform.
The National Bank of Ukraine has decided to recognize the services of Trustee Global UAB, which are provided through the TRUSTEE PLUS application, as containing features of financial payment services subject to licensing and authorization by the National Bank and has prohibited their provision.
Trustee told dev.ua that they were able to convince the regulator that most of the comments were unfounded: out of the seven points that the NBU put forward in late July, only two remained in force. At the same time, the company considers this decision a dangerous precedent, as it effectively prohibits P2P interaction on the Ukrainian crypto market.
Trustee Plus adds that they have repeatedly tried to hold consultations with the NBU to determine a roadmap for product development in Ukraine. However, in response, they received the regulator's position that "currently the National Bank does not have the authority to authorize cryptocurrency services" due to the lack of a relevant law.
The company reminds: transactions with crypto assets are carried out by UAB Trustee Global, to which the NBU has no claims. And work with fiat assets is carried out through the Polish partner Quicko, licensed in the EU.
The NBU states that it has been paying attention to services that have “signs of financial payment services”, in particular, the transfer of funds from account to account of the user and without opening an account, which was not regulated by the license. The Committee on Supervision and Regulation of Banking Activities recommended a ban on these services.
There will be no changes for users - assets remain safe, Trustee emphasizes. Registration of new clients in Ukraine was stopped on May 22, and all services in the EU operate in accordance with European legislation.
The company claims that it is open to dialogue and ready to protect the right of Ukrainians to access modern fintech services.
