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OFAC imposes sanctions on Russian drone developer KB Vostok, linked to Ukraine invasion, disrupting Russias military supply chain. (Read More)
Ukraine is reportedly edging closer to making Bitcoin a strategic national reserve asset, a move that could strengthen its economic standing.
Ukrainian authorities are gearing up to introduce a National Bitcoin Reserve amid incoming local regulations.
The bill introduces an 18% personal income tax on activities like mining, staking, and airdrops, along with a 5% military levy. Law aligns Ukraine with EU crypto taxation models. Draft bill signals the end of Ukraine’s tax-free crypto era. Ukraine is taking a major step toward formalising cryptocurrency taxation as it pushes forward a proposal […]
The post Crypto gains in Ukraine face 18% income tax under new bill appeared first on CoinJournal.
The rising number of Ukrainian officials declaring their holdings in cryptocurrency is more than twofold from the beginning of Russias full-scale invasion in 2022, with stablecoin Tether (USDT) and Bitcoin (BTC) becoming the two most popular digital assets used by government employees in Kyiv, April 4, 2025. As reported by Forklog, citing public registry monitor […]
The Ukrainian government has proposed a new tax law that would impose a 23% tax on cryptocurrency transactions. This tax would not apply to stablecoins, which are cryptocurrencies pegged to assets like the US dollar to minimize price volatility. The proposal outlines that individuals and businesses engaging in cryptocurrency transactions would need to report their [...]
The post Ukraine introduces new tax law: 23% tax on select crypto income, stablecoins exempted appeared first on Crypto Breaking News.
Russian authorities are citing Pussy Riot founding member's blasphemous NFT as evidence for criminal charges.
As Russia invaded Ukraine in February of last year, an organization called Ukraine DAO instantly surfaced as a charity ready to help those wanting to donate to Ukraine using crypto, promising 100% of donations would go to the cause.
UkraineDAO started off doing what they promised to do…
The organization’s first move was the auction of an NFT of the Ukrainian flag. Many in the crypto community shared this on social media, along with some high profile exposure from people like Ethereum founder Vitalik Buterin and Nadia Tolokonnikova of Russian Anti-Putin band Pussy Riot.
The NFT raised a total of $6.8 million worth of ETH at the time - and on-chain records show this being transferred to non-profit Ukrainian Military Support organization ‘Come Back Alive’ which helps supply equipment and training for Ukrainian soldiers.
Their verifiable donations include:
- 1550.5 ETH to Come Back Alive.
- 387.63 ETH to Ukraine Government.
- 190.49 ETH to OutRight Action International
- 4.43 ETH to Psychology for Human Rights
This totals approximately 2130 ETH verifiably donated. But the wallet data shows a total of 2468 ETH received.
So there’s a remaining 338 ETH with a current value approximately $640,300. Some of this sits unspent, some is accounted for, and some is accounted for but the way it was used is where conflict begins to arise.
Things got real nasty, real fast...
The first issue came to light when Nadia Tolokonnikova of Russian Anti-Putin band Pussy Riot, who initially endorsed the project, quit after learning that the promise of “100% of funds” being donated was untrue and project leader Alona Shevchenko had been taking a $5,000/month salary.
Alona responded showing how previously Nadia had given interviews where she was asked about when she ‘started the charity’ - she didn't, but instead of correcting the interviewer she went on to answer saying that her ‘first reaction’ to the news was to create the charity 'with a number of friends’.
This is the point where you start to get an awful feeling that both ‘sides’ in this battle are people you probably don’t want anything to do with.
Basically, Nadia absolutely did not create the DAO or come up with the idea to do one. This is extremely obvious from the fact that there are 5 leaders who each need to sign off anytime a transaction is made from the official wallet (multi-sig). Nadia’s role wasn’t important enough to even be one of those 5.
So Nadia seems to have used the situation for self-promotion and taken credit away from the actual creator, which seems to truly be Alona Shevchenko.
Alona shot back calling it another example of Russians stealing from Ukrainian...
But before you feel bad for her, she may be awful too.
You can still see the promise made on their official Twitter account that “100% proceeds go to support Ukrainians suffering for the war” - no room for confusion there .
While Alona is from Ukraine, she has been living in the UK for years before the war even started. When taking a look at her LinkedIn employment history, we see that she’s been employed in London-based companies since 2017 - clearly she does not qualify as one of the “Ukrainians suffering for the war” yet she took $5000 per month from the donated funds for things like rent and personal expenses.
Ukraine DAO also repeatedly stated they were “supported by the Ministry of Digital Transformation of Ukraine” making them “the first DAO to have been endorsed at the state level”. That claim would later be called ‘weird’ when after catching the attention of Ukrainian news outlet Kiev Post, who asked the Ukrainian government about these claims, they were told “The Ministry of Digital Transformation has not endorsed Ukraine DAO” .
However, I should mention that the Ukrainian government was not saying ‘we have no idea who you’re talking about’ - because there is some kind of relationship between the two organizations.
A profile on Alona Shevchenko which highlights her co-founding Ukraine DAO appears on an official Ukrainian government website. However, when asked, Oleksandr Bornyakov, Ukraine’s Deputy Minister of the program downplayed its importance only as 1 of nearly 300 pages for volunteers for a program to educate the public on crypto.
Ukrainian News Outlets Claim "around $700k" in Missing Donations - We've Located Approximately $400K Of It...
At today's ETH value it's somewhere closer to $640,300 ‘unaccounted’ for funds, some of which more accurately should be called ‘unexplained’ funds. Because we know where some of that is, we just don’t know why it’s there.
There’s what was sent to individuals - Alona’s $5000 monthly payments to herself is somewhere around $70,000 total now. There was another $34,013 sent to another co-founder of the charity, Matthew Bundy; we can’t imagine why unless donors are now paying his rent too.
Then we don’t know who this was intended for, but another transaction for approximately $155,000 was sent to a wallet controlled by Sam Bankman-Fried’s former exchange FTX shortly before everyone lost access to their funds, as far as we can tell it was still there when that happened.
Lastly, $156,461 still sits in the official wallet of the charity.
While the situation is much better than $700,000 missing, there's still a total around $200,000 gone from the charity's wallet but not listed as being spent anywhere - too much to go unanswered for.
So, Now What?
Thankfully this isn’t a situation where donations are still flowing into the charity, so even if the worst outcome is true and a large amount of funds were misused, that number isn’t growing, at least from Ukraine DAO.
However, the same group appears to be on to the next cause - launching Iran DAO whose Twitter profile states “providing resources for Iran’s women-led revolution.”
It began with a Tweet from UkraineDAO stating they are “working to set up IranianDAO.”
In Closing…
It’s important to note that we could only label some Ukrainian funds ‘unaccounted’ for - which is very different than labeling them ‘stolen’. However, I’d like every dollar from their previous charity to be accounted for before even considering supporting a new one.
Or should the funds that ended up in Alona’s hands for personal expenses be considered ‘stolen’? This is a grey area legally. If 100% of the funds were to go to ‘Ukrainians suffering from the war’, she is Ukrainian, and while she only experiences the war via online news and TV from her home in England, perhaps she found the images emotionally distressful, technically making her a ‘Ukrainian suffering from the war’.
Still, I feel confident that no one donated thinking any of their money was going to a Ukrainian, who hasn't lived in Ukraine for years, and is one of the people in a position of trust with access to the donated funds, would find a way to put some in her own pocket - technically legal or not.
While the Ukrainian government’s resources are focused elsewhere, there is a group of citizens along with journalists from the Kiev Post who continue to demand full accounting of every donated dollar, as well as question the legality of some of the DAO’s controversial decisions.
They vow that when the war is over they will be pressuring the government to review any potential exploitation by those using their crisis for personal profit.
The story may be far from over, but this is where things stand now.
-----------
Author: Ross Davis
Silicon Valley Newsroom
GCP | Breaking Crypto News
As Russia invaded Ukraine in February of last year, an organization called Ukraine DAO instantly surfaced as a charity ready to help those wanting to donate to Ukraine using crypto, promising 100% of donations would go to the cause.
UkraineDAO started off doing what they promised to do…
The organization’s first move was the auction of an NFT of the Ukrainian flag. Many in the crypto community shared this on social media, along with some high profile exposure from people like Ethereum founder Vitalik Buterin and Nadia Tolokonnikova of Russian Anti-Putin band Pussy Riot.
The NFT raised a total of $6.8 million worth of ETH at the time - and on-chain records show this being transferred to non-profit Ukrainian Military Support organization ‘Come Back Alive’ which helps supply equipment and training for Ukrainian soldiers.
Their verifiable donations include:
- 1550.5 ETH to Come Back Alive.
- 387.63 ETH to Ukraine Government.
- 190.49 ETH to OutRight Action International
- 4.43 ETH to Psychology for Human Rights
This totals approximately 2130 ETH verifiably donated. But the wallet data shows a total of 2468 ETH received.
So there’s a remaining 338 ETH with a current value approximately $640,300. Some of this sits unspent, some is accounted for, and some is accounted for but the way it was used is where conflict begins to arise.
Things got real nasty, real fast...
The first issue came to light when Nadia Tolokonnikova of Russian Anti-Putin band Pussy Riot, who initially endorsed the project, quit after learning that the promise of “100% of funds” being donated was untrue and project leader Alona Shevchenko had been taking a $5,000/month salary.
Alona responded showing how previously Nadia had given interviews where she was asked about when she ‘started the charity’ - she didn't start it. But instead of correcting the interviewer she went on to answer saying that her ‘first reaction’ to the news was to create the charity 'with a number of friends’.
This is the point where you start to get an awful feeling that both ‘sides’ in this battle are people you probably don’t want anything to do with.
Basically, Nadia absolutely did not create the DAO or come up with the idea to do one. This is extremely obvious from the fact that there are 5 leaders who each need to sign off anytime a transaction is made from the official wallet (multi-sig). Nadia’s role wasn’t important enough to even be one of those 5.
So Nadia seems to have used the situation for self-promotion and taken credit away from the actual creator, which appears to truly be Alona Shevchenko.
Alona shot back calling it another example of Russians stealing from Ukrainian...
But before you feel bad for her, she may be awful too.
You can still see the promise made on their official Twitter account that “100% proceeds go to support Ukrainians suffering for the war” - no room for confusion there .
While Alona is from Ukraine, she has been living in the UK for years before the war even started. When taking a look at her LinkedIn employment history, we see that she’s been employed in London-based companies since 2017 - clearly she does not qualify as one of the “Ukrainians suffering for the war” yet she took $5000 per month from the donated funds for things like rent and personal expenses.
Ukraine DAO also repeatedly stated they were “supported by the Ministry of Digital Transformation of Ukraine” making them “the first DAO to have been endorsed at the state level”. That claim would later be called ‘weird’ when after catching the attention of Ukrainian news outlet Kiev Post, who asked the Ukrainian government about these claims, they were told “The Ministry of Digital Transformation has not endorsed Ukraine DAO” .
However, I should mention that the Ukrainian government was not saying ‘we have no idea who you’re talking about’ - because there is some kind of relationship between the two organizations.
A profile on Alona Shevchenko which highlights her co-founding Ukraine DAO appears on an official Ukrainian government website. But when asked, Oleksandr Bornyakov, Ukraine’s Deputy Minister of the program downplayed its importance only as 1 of nearly 300 pages for volunteers for a program to educate the public on crypto.
Ukrainian News Outlets Claimed "around $700k" - We've Located Approximately $400K Of It...
At today's ETH value it's somewhere closer to $640,300 ‘unaccounted’ for funds, some of which more accurately should be called ‘unexplained’ funds. Because we know where some of that is, we just don’t know why it’s there.
There’s what was sent to individuals - Alona’s $5000 monthly payments to herself is somewhere around $70,000 total now. There was another $34,013 sent to another co-founder of the charity, Matthew Bundy; we can’t imagine why unless donors are now paying his rent too.
Then we don’t know who this was intended for, but another transaction for approximately $155,000 was sent to a wallet controlled by Sam Bankman-Fried’s former exchange FTX shortly before everyone lost access to their funds, as far as we can tell it was still there when that happened.
Lastly, $156,461 still sits in the official wallet of the charity.
The situation is much better thann $700,000 missing, but there's still a total around $200,000 gone from the charity's wallet but not listed as being spent anywhere - which is still too much to go unanswered for.
So, Now What?
Thankfully this isn’t a situation where donations are still flowing into the charity, so even if the worst outcome is true and a large amount of funds were misused, that number isn’t growing, at least from Ukraine DAO.
However, the same group appears to be on to the next cause - launching Iran DAO whose Twitter profile states their goal of “providing resources for Iran’s women-led revolution.”
It began with a Tweet from UkraineDAO stating they are “working to set up IranianDAO.”
In Closing…
It’s important to note that we could only label some Ukrainian funds ‘unaccounted’ for - which is very different than labeling them ‘stolen’. However, I’d like every dollar from their previous charity to be accounted for before even considering supporting a new one.
Or should the funds that ended up in Alona’s hands for personal expenses be considered ‘stolen’? This is a grey area legally. If 100% of the funds were to go to ‘Ukrainians suffering from the war’, she is Ukrainian, and while she only experiences the war via online news and TV from her home in England, perhaps she found the images emotionally distressful, technically making her a ‘Ukrainian suffering from the war’.
Unfortunately I’m struggling to come up with a scenario that ends with these payments to herself turning out to be completely ethical.
I’m confident that no one donated thinking any of their money was going to a Ukrainian, who hasn't lived in Ukraine for years, is one of the people trusted with access to the donated funds, finding a way to put some in her own pocket - technically legal or not.
While the Ukrainian government’s resources are focused elsewhere, there is a group of citizens along with journalists from the Kiev Post who continue to demand full accounting of every donated dollar, as well as question the legality of some of the DAO’s controversial decisions.
They vow that when the war is over they will be pressuring the government to review any potential exploitation by those using their crisis for personal profit.
The story may be far from over, but this is where things stand now.
UkraineDAO was contacted (via Twitter DM) and invited to share any additional information on the topics mentioned here. If they choose to, we will include it with our reporting.
-----------
Author: Ross Davis
Silicon Valley Newsroom
GCP | Breaking Crypto News
The paramilitary group Wagner rebelled against the military leadership in Moscow, resulting in the Russians exchanging their rubles, Russia’s currency,
Officials have revealed that Ukraine intends to implement the crypto market rules approved by the European Parliament. While the government is already moving in that direction, the tax service has issued a clarification regarding the taxation of income resulting from cryptocurrency transactions. Ukraine Set to Incorporate EU Crypto Regulations Into National Law A regional leader [...]
The post Ukraine to Adopt Europe’s Crypto Rules, Clarifies Taxation appeared first on Crypto Breaking News.
The percentage of reserves held in U.S. dollars by central banks has fallen to less than half of the global total of reserves, according to a note from Eurizon SLJ Asset Management. The note states that the recent sanctions enacted by the U.S. against the Bank of Russia have eroded trust in the dollar as
The post Global Reserves Held in US Dollars Fell to Less Than 50% — Official States It Has Become a ‘Toxic’ Currency appeared first on BTC Ethereum Crypto Currency Blog.
The process of de-dollarization has practically started, according to Russian Minister of Foreign Affairs Sergey Lavrov. Moscow’s top diplomat is convinced that Russia’s position on the matter is shared by many other countries while the West is undermining the role of the U.S. currency. Russia’s Sergey Lavrov Announces Beginning of De-dollarization of Global Economy Russian [...]
The post De-dollarization Has Already Started, Says Russia’s Foreign Minister Lavrov appeared first on Crypto Breaking News.
Immediately after passing the European Parliament, Ukrainian authorities announced plans to adopt the EU's MiCA regulations on crypto assets.
Elvira Nabiullina, governor of the Bank of Russia, has affirmed the bank has stockpiled reserves in assets that are not susceptible to being affected by U.S. sanctions. The official clarified that Russia has built a “safety cushion” in these assets while it continues working on creating new reserves in non-U.S. sanctioned assets. Russia Built Bank [...]
The post Bank of Russia Has Stockpiled Reserve Comprised of Non-US Sanctioned Assets, Governor States appeared first on Crypto Breaking News.
Binance’s special removal operation comes in compliance with the 10th sanction package enforced by the European Union.
The central bank of Ukraine sees crypto as a threat to macro-financial stability and a promising opportunity for better payments at the same time.
Ukraine has received over $70 million in cryptocurrency donations since the start of the conflict with Russia, with the majority of the funds coming in the form of Ether and Bitcoin. Donors have contributed to the nation's military equipment and humanitarian aid efforts, with non-fungible tokens also being donated. (Read More)
Ukraine has accumulated over $70 million in crypto donations for its war efforts.
Now that the Russo-Ukrainian conflict has completed its first year, reports indicate that crypto has played an essential role in the dispute besides serving for [...]
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