Ukraine’s Economic Security Bureau (ESB) is investigating local cryptocurrency exchanges. This action comes in response to the bureau’s discovery that unregulated exchanges operating in the country have led to a loss of 3 billion Ukrainian hryvnia (over $80 million) in uncollected taxes.
Earlier, Ukrainian regulators voted to tax crypto gains 18% as of 2024. Meanwhile, Kyiv has been working to align its cryptocurrency regulations with the European Union (EU) in recent weeks to introduce regulatory measures that adhere to the principles laid out in the EU’s Markets in Crypto-Assets (MiCA) legislation.
Ukraine Intensifies Probe Into Crypto Exchanges
Andriy Pashchuk, the head of Ukraine’s Economic Security Bureau (ESB), stated in an interview with Forbes Ukraine that the investigation focuses on trading platforms with locals as beneficiaries. He disclosed that ESB analysts use data services like Chainalysis and Crystal Blockchain to track cryptocurrency transactions meticulously.
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