Court rules to return seized equipment to founder of Bitcoin Foundation Ukraine

12:09, 18.11.2015 1 min read

The Shevchenkivsky District court of Kyiv has ruled to return equipment previously seized during a search of the possessions of the founder of Bitcoin Foundation Ukraine Mykhailo Chobanian.

According to the ruling, mobile phones, a navigator, flash cards, laptops, and SIM-cards were among the 39 different items seized.

The ruling cannot be appealed.

As reported, in early November, representatives of the cyber crime department of the Interior Ministry carried out a search of the home of Chobanian.

According to the court ruling used by law enforcers, Chobanian is alleged to be the owner of the kuna.com.ua and kuna.ia websites where the cryptocurrency bitcoin can be bought and traded, however such transactions have not had their regulations agreed with the National Bank of Ukraine (NBU). This violates the procedure for the use of electronic money in Ukraine. According to the court ruling, the use of bitcoin does not adhere to Ukrainian law.