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Cryptocurrency assets in Ukraine are not a means of payment and their legal status is currently undefined. However, this does not prevent pre-trial investigation authorities from monitoring them. We were approached by a business owner whose cryptocurrency assets had been seized.
WHAT WE DID
With the help of blockchain experts, Riyako&Partners lawyers conducted a detailed analysis of the movement of cryptocurrency assets and their origin. With the evidence gathered, we proved the groundlessness and illegality of the seizure, and the court overturned it. This decision also shapes general court practice in protecting crypto entrepreneurs from law enforcement interference in the peaceful possession of property.
The virtual asset market in Ukraine is not yet regulated, and every year new bills are introduced that establish rules and responsibilities for cryptocurrency owners. Keep an eye on developments in this area and ensure the security of your business, given the steady European trend towards cryptocurrency regulation.
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