Ukrainian Bitcoin Agency KUNA Notifies Regulators of Upcoming Launch of a Bitcoin Exchange

News and Analysis

KUNA Agency submitted a notification as to forthcoming launch of Ukraine’s first bitcoin exchange to the National Bank of Ukraine and to the head of the committee on securities and stock market of Ukrain, Timur Khromariov.

Earlier this month, KUNA announced a crowd sale for launching of the country’s first bitcoin exchange. The final conditions thereof are to be published in a short while. The auction for sale of a 10% share in the new platform launches on December 13.

“We play open and fair. Tomorrow we’ll publish the final crowdsale conditions and launch the lending process,” Mikhail Chobanian, KUNA’s co-founder, wrote on Facebook.

ForkLog asked Mikhail to comment on the sumbitted of the documents.

FL: You published information as to submitting a document package to the National Bank and the head of the securities committee.
Chobanian: Yes, we did submit the documents to the National Bank and the committee to notify the government entries that this kind of project is about to be launched in Ukraine. We think they might find it interesting. Anyway, the project is related to financial markets, so we opted to notify them. We don’t expect any feedback.

FL: So, you have no plans as to running a regulated exchange?
MC: No, there’s no regulation on the table. There is the license stating the basing things that would underlie our business. So, our shareholders and customers probably realize what we are going to do, and how we will do it.

Earlier this year, the extended meeting at the National Bank of Ukraine considered the project for “Bitcoin development in Ukraine”. It was the first discussion on cryptocurrency attended by representatives of the NBU. Back then, Mikhail Chobanian offered the regulator to introduce a Ukrainian bitcoin license.

Later on, Ukraine’s fintech community launched a dialogue on digital currency integration in the country’s economy. The document titled “Bitcoin as an Instrument of Ukraine’s Fintech Progess” was prepared specifically for the meeting.

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