Ukraine lost at least $10bn due to lack of crypto market regulation
- According to the RUSI report, the losses to Ukraine’s state budget from the lack of regulation of the crypto market reach at least $10 billion.
- The analysts also stressed that Telegram and ‘drops’ are among the main risks of the Ukrainian crypto market.
- Without proper legislation, Ukraine risks becoming a hub for laundering Russian funds.
Ukraine has already suffered at least $10 billion in losses due to the lack of full regulation of the cryptocurrency market. This is stated in an August report by the Royal United Services Institute for Defence Studies (RUSI).
Analysts noted several key risks: uncontrolled activities of over-the-counter (OTC) platforms, the use of cryptocurrencies to purchase sanctioned components for the…
