Nothing changes for existing Trustee Global UAB clients, despite NBU restrictions – company director Hrusha

Vadym Hrusha, director and founder of Trustee Global UAB, reported that nothing changes for the company's existing clients, despite the National Bank's restrictions.

He announced this on Telegram, the Ukrainian News agency reports.

He reported that at the end of July, the NBU notified the company that it sees potential violations (of the provision of financial services in Ukraine) on seven points.

"We promptly provided thorough explanations and objections. Late yesterday evening, the NBU published news that it had issued a negative decision on two points, namely regarding the P2P platform and euro transfers between users. So, we managed to convince the NBU that most of the comments on the application's activities are unfounded. And yet, the NBU's decision creates a negative precedent for the entire crypto market, effectively prohibiting P2P interaction between users. The NBU also makes unfounded assumptions about the operation of euro balances in the Trustee Plus application," Hrusha wrote.

According to him, since May 2024, the company has been trying to establish a constructive dialogue with the NBU, and the regulator reported that the National Bank does not have the authority to authorize cryptocurrency services / service providers in the field of virtual assets due to the lack of a relevant law in Ukraine.

"I emphasize: user assets are safe - we work transparently through European partners. Nothing changes for Trustee Plus clients: registration of new users in Ukraine was suspended on May 22. Services in the EU are provided in strict accordance with the legislative framework of the European Union. We are open to dialogue and together with partners we will seek a legal way to protect the rights of Trustee Plus. "We thank our community for their trust - we will fight with you for the right of Ukrainians around the world to have free access to modern fintech services," the company owner concluded.

As the Ukrainian News agency earlier reported, the National Bank decided to recognize the services of Trustee Global UAB, which are provided through the TRUSTEE PLUS application, as containing signs of financial payment services subject to licensing and authorization by the National Bank, and banned their provision.