Ukrainian cryptocurrency exchange KUNA is ceasing its operations worldwide

Ukrainian cryptocurrency exchange KUNA is ceasing its operations worldwide

KUNA, the Ukrainian cryptocurrency exchange, which has been operating in the crypto industry for almost 11 years, is ceasing commercial operations not only in Ukraine but also worldwide.

The founder of Kuna, Mykhailo Chobanyan, announced these intentions.

“I am ceasing any commercial activity of the cryptocurrency exchange as of today. KUNA is completely shutting down its operations in all countries,” stated Mykhailo Chobanyan on his Telegram channel. He emphasized that there is no question of selling the cryptocurrency exchange.

Such a statement by the founder of the cryptocurrency exchange followed a decision by the Shevchenkivsky District Court of Kyiv on January 23, at the request of the Bureau of Economic Security of Ukraine, according to which the State Special Communications Service sent a letter to all telecom operators, initiating the blocking of KUNA.

Mykhailo Chobanyan noted that clients of the cryptocurrency exchange will have about two months of a transition period to withdraw their assets.

“As I have repeatedly told you throughout this journey — do not store money on centralized services, including KUNA. As long as they are there, it is not your money,” the founder of the cryptocurrency exchange stated.

Chobanyan also added that the business currently distracts him and does not allow him to “enter this new world order in a neutral status.” The space occupied by the cryptocurrency exchange, the founder of KUNA plans to free up for “something interesting and new — Symbiocracy.” He said that he is currently only interested in the IT industry domain, in which private or state enterprises create software.

“GovTech is the next direction that interests me. Everything related to technology, artificial intelligence, and the development of humanity,” Chobanyan noted.