Ukrainian agents raids the house of the founder of Bitcoin Foundation Ukraine

Crime | November 11, 2015 By:

The Cyber Crime Department of the Interior Ministry of Ukraine dispatched their agents to search the apartment of Mikhail Chobanyan, the founder and leader of Bitcoin Foundation Ukraine.

Smartphones and SIM cards, a tablet, a Wi Fi router were taken away, as well as personal things of Mikhail’s family and brochures about bitcoin. The police tried not to allow lawyers in, Chobanyan said.

According to the search warrant, Chobanyan, being a co-owner of web resources and, allowing exchange of bitcoin into Ukrainian Hryvnias and vice versa, is suspected of emitting cryptocurrencies and infracting on the rules of using electronic currencies in Ukraine.

Chobanyan disagrees with the decision of the court. As there are currently no laws regulating cryptocurrencies in Ukraine, he believes their mining and exchange for Hryvnyas should be considered as legal.