Kuna Cryptocurrency Exchange Announces Its Closure

The founder of the Ukrainian cryptocurrency exchange Kuna, Mikhail Chobanyan, has announced the complete cessation of the company’s operations in all countries. Users have been given a two-month transition period to withdraw their funds. Chobanyan noted that after this stage, the exchange code, cleared of customer data, will be used in new projects with other market participants.

Earlier, the State Service for Special Communications and Information Protection of Ukraine blocked the exchange’s domain based on a decision of the Shevchenkivskyi Court of Kyiv at the request of the Bureau of Economic Security (BES). According to Chobanyan, the claims relate to alleged tax evasion, but the details of the charges are currently unknown.

After closing Kuna, Mikhail Chobanyan plans to focus on developing the concept of symbiosis, a model of world order based on the symbiosis of humans, artificial intelligence, and the noosphere.

This is not the first conflict between KUNA and the authorities. In 2023, the exchange officially left the Ukrainian market, and in 2024, Chobanyan stated that the crypto market in Ukraine was «killed» due to regulatory pressure. So far, KUNA representatives have not announced whether they will appeal this decision in court.

At the time of the announcement, the daily trading volume on the exchange was just over $ 4 million. It is worth noting that the draft law on the regulation and taxation of virtual assets in Ukraine has not yet been adopted; its updated version is planned to be considered in the first quarter of 2025.