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Trading volumes on the Ukrainian crypto exchange Kuna have shrunk 90% since March 2023 due to government policies, the CEO said. The government of Ukraine has recently approached the local cryptocurrency industry with a new request to provide certain financial information.  The National Bank of Ukraine (NBU) had demanded four local crypto firms — Kuna, CoinPay, GEO Pay and Qmall — to provide financial statements for the first two quarters of 2023. The NBU has demanded the crypto businesses to provide the financials within seven days. Kuna exchange founder and CEO Michael Chobanyan shared the news about the latest NBU’s request on July 3, citing a document distributed by the Ukrainian Telegram news channel “Politics of the country.” The National Bank of Ukraine’s document that was sent to local crypto exchanges. Source: Telegram According to the document, the NBU also demanded the crypto businesses to provide data on operating volumes as well as information about reception and ...

Kuwait’s Capital Markets Authority has officially confirmed the commitment to “absolute prohibition” of virtually all crypto operations in the country. The state of Kuwait is the latest jurisdiction to ban virtually all operations involving cryptocurrencies like Bitcoin (BTC). On July 18, Kuwait’s main financial regulator, the Capital Markets Authority (CMA), issued a circular on the supervision and issuance of virtual assets in the country. In the circular, the CMA confirmed the commitment to “absolute prohibition” on major use cases and operations involving cryptocurrencies, including payments, investments, and mining. The circular also bans local regulators from issuing any licenses allowing firms to provide virtual asset services as a commercial business. In the meantime, securities and other financial instruments regulated by the Central Bank of Kuwait and the CMA are excluded from the latest prohibitions, the announcement notes. Apart from the prohibitions, the CMA also requ...

Romania’s Informatics Institute is set to launch an institutional NFT trading platform, using Web3 to create a link between the public and private sectors. Romania’s National Institute for Research and Development in Informatics (ICI Bucharest) aims to drive Web3 adoption in the country with the launch of an in-house nonfungible token trading platform. The institutional NFT platform, dubbed ICI D|Services, will go live on April 26 and aims to create a link between private and public sector institutions and users. The platform is primarily an NFT marketplace , allowing public and institutional users to mint, manage and trade NFTs. Cointelegraph spoke to ICI Bucharest blockchain laboratory coordinator Dr. Paul Niculescu-Mizil Gheorghe to unpack the impetus behind the country’s efforts to adopt Web3-powered technologies. ICI Bucharest has been primarily focused on research and development over the past five years, but shifted its attention to exploring blockchain, Web3 and nonfungible t...