The founder of Kuna spoke about the role of cryptocurrencies during the war in Ukraine

The founder of the Kuna bitcoin exchange, Mikhail Chobanyan, spoke on hearings Committee of the US Senate on how cryptocurrencies help Ukraine during the war and why Russian oligarchs will not be able to circumvent sanctions with their help.

According to Chobanyan, the cryptocurrency fund, organized jointly with the Ministry of Digital Development and the Ministry of Defense of Ukraine, has received more than $50 million in donations and plans to double this amount.

These funds are used to purchase medicines, humanitarian aid and are directed to support the Ukrainian army. Through crypto assets, they also support residents of the occupied Mariupol and Kharkov under shelling:

“The Internet is still working there and we can transfer cryptocurrency there. With its help, people can buy food and what they need.”

Some senators during the hearings raised concerns about the possible use of cryptocurrencies for illegal transactions and circumvention of sanctions by officials who fell under them.

Chobanyan stressed that the assets received by the Ukrainian government cryptocurrency fund as donations are checked for links to illegal activities.

He also expressed confidence that the Russian oligarchs will not be able to circumvent sanctions with the help of crypto assets, since they will not be able to convert millions of rubles into digital currencies and go unnoticed.

At the same time, the founder of Kuna spoke out against the complete blocking of cryptocurrency transactions by ordinary citizens of the Russian Federation. He noted that there are many Russians who are in opposition and rely on cryptocurrencies. When taking measures against the Russian authorities, it is necessary to make sure that they do not affect the opposition, “which can help overthrow the Putin regime,” Chobanyan added.

“So far, apart from people from Russia who are on the sanctions lists, no one is touched. Therefore, if you are not an oligarch or an official from the Russian Federation, you should not worry, ”he said in a comment. Cryplogger U.A..

After the start of the war in Ukraine, Kuna turned off all ruble pairs and closed the deposit and withdrawal of the ruble.

In a conversation with Cryplogger UA, Chobanyan noted that at the hearing in the Senate, diametrically opposed positions were expressed regarding cryptocurrencies. According to him, “regulation is not some kind of sudden movement,” therefore, it is still impossible to talk about changes in the rhetoric of American regulators towards crypto assets.

“Probably, only for the citizens of Ukraine now there are more loyal conditions all over the world, including verification at various Western sites. And for example, Kraken, FTX are very loyal to us,” he said.

Recall that the amount of cryptocurrency donations to Ukrainian charitable foundations exceeded $100 million.

Read about how the bitcoin community of Ukraine met the war in our exclusive:

The founder of the Kuna bitcoin exchange, Mikhail Chobanyan, spoke on hearings Committee of the US Senate on how cryptocurrencies help Ukraine during the war and why Russian oligarchs will not be able to circumvent sanctions with their help.

According to Chobanyan, the cryptocurrency fund, organized jointly with the Ministry of Digital Development and the Ministry of Defense of Ukraine, has received more than $50 million in donations and plans to double this amount.

These funds are used to purchase medicines, humanitarian aid and are directed to support the Ukrainian army. Through crypto assets, they also support residents of the occupied Mariupol and Kharkov under shelling:

“The Internet is still working there and we can transfer cryptocurrency there. With its help, people can buy food and what they need.”

Some senators during the hearings raised concerns about the possible use of cryptocurrencies for illegal transactions and circumvention of sanctions by officials who fell under them.

Chobanyan stressed that the assets received by the Ukrainian government cryptocurrency fund as donations are checked for links to illegal activities.

He also expressed confidence that the Russian oligarchs will not be able to circumvent sanctions with the help of crypto assets, since they will not be able to convert millions of rubles into digital currencies and go unnoticed.

At the same time, the founder of Kuna spoke out against the complete blocking of cryptocurrency transactions by ordinary citizens of the Russian Federation. He noted that there are many Russians who are in opposition and rely on cryptocurrencies. When taking measures against the Russian authorities, it is necessary to make sure that they do not affect the opposition, “which can help overthrow the Putin regime,” Chobanyan added.

“So far, apart from people from Russia who are on the sanctions lists, no one is touched. Therefore, if you are not an oligarch or an official from the Russian Federation, you should not worry, ”he said in a comment. Cryplogger U.A..

After the start of the war in Ukraine, Kuna turned off all ruble pairs and closed the deposit and withdrawal of the ruble.

In a conversation with Cryplogger UA, Chobanyan noted that at the hearing in the Senate, diametrically opposed positions were expressed regarding cryptocurrencies. According to him, “regulation is not some kind of sudden movement,” therefore, it is still impossible to talk about changes in the rhetoric of American regulators towards crypto assets.

“Probably, only for the citizens of Ukraine now there are more loyal conditions all over the world, including verification at various Western sites. And for example, Kraken, FTX are very loyal to us,” he said.

Recall that the amount of cryptocurrency donations to Ukrainian charitable foundations exceeded $100 million.

Read about how the bitcoin community of Ukraine met the war in our exclusive: