Porto-Franco City

The National Bank of Ukraine has made the decision to prohibit the Lithuanian company Trustee Global UAB from offering financial services through the Trustee Plus cryptocurrency wallet to Ukrainian citizens without the necessary license. This was reported by the press service of the National Bank, as conveyed by Ukrinform.
"The National Bank of Ukraine has recognized that the services provided by Trustee Global UAB through the Trustee Plus application include characteristics of financial payment services that require licensing and authorization, and has banned their provision," the statement reads.
It is noted that during the supervision of payment service providers, the regulator's attention was drawn to the Trustee Plus cryptocurrency wallet. Following a thorough analysis, it was determined that the company provides money transfer services without account opening and conducting payment transactions with the user's own funds.
Comments received by the NBU from Trustee Global UAB do not refute, and in some cases confirm, the provision of financial payment services to Ukrainian citizens.
The company is required to immediately cease the provision of prohibited services until it aligns its operations with Ukrainian legislation. In case of non-compliance with these requirements, the company will bear responsibility under Ukrainian law.
The NBU warns citizens to be cautious when interacting with unauthorized online platforms and to always verify the status of financial institutions in the regulator's registries. The regulator cannot protect the rights of consumers who use the services of unauthorized financial institutions.
As a reminder, in August, the number of participants in the non-bank financial market in Ukraine decreased from 799 to 791 institutions, while the number of banks remained unchanged at 60.