The National Bank of Ukraine (NBU) has asked the law enforcement agencies to investigate into activities of Royal Standard LLC, which attracted funds of depositors at high rates – 24-33% per annum in hryvnias and 18-22% in U.S. dollars, the NBU has reported. “The NBU does not grant licenses for attracting deposits or lending to entities that do not have the status of a bank, while the company has not received these licenses from other financial sector regulators – the national commission for financial service markets regulation and the National Commission for Securities and the Stock Market. Moreover, Royal Standard LLC does not have the status of a financial institution. That is, the company by law cannot attract deposits and issue loans,” the National Bank wrote on its Facebook’s page.
According to the NBU, Royal Standard offers investors to deposit cash directly at the office of the company or transfer it to its bank account, and the interest is promised to be paid to a bank card, the details of which are specified in the contract. As a guarantee of the deposit with the depositor, a pledge of rights to movable/immovable property is concluded, whereby the depositor receives a security deposit for property worth twice more than the value of the deposit. “People are explained that, in addition to accepting deposits, the company also provides loans to other persons securing them by property, namely, the rights to this property are transferred to depositors as a guarantee of the deposit. Market value and the existence of this property raise doubts,” the National Bank said.
FINANCIAL ACTIVITIES, INVESTIGATE, NATIONAL BANK, ROYAL STANDARD
Ukrainian Prime Minister Volodymyr Groysman has said that the country is ready to put 44 fields with 150 billion cubic meters (bcm) of gas stocks up for electronic auctions. “Today we are making a decision to open information about geospatial data and about holding auctions. We have prepared 44 land parcels with 150 bcm of gas stocks, which require investment and technologies,” he said, opening a government meeting.
“Our task is clear – to open all the geological information about the deposits, to provide opportunities of arriving to the country for Ukrainian and world business on the basis of transparent auctions and extract Ukrainian gas so that we refuse to import it. As soon as we refuse to import gas, we would immediately decisively reduce gas prices, and we would not depend on the global gas price,” he added.
A concept of regulating transactions with cryptocurrencies names the National Commission for Securities and the Stock Market of Ukraine the main regulator on the cryptocurrency market and authorizes the commission to license cryptocurrency exchanges and cryptocurrency exchange points, according to materials posted on the website of the commission. In particular, it is proposed that the National Commission for Securities and the Stock Market will classify and define tokens as financial tools, regulate the exchange and purchase and sale of cryptocurrency through cryptocurrency exchanges, as well as Initial coin offerings (ICO).
At the same time, according to the concept, State Financial Monitoring Service is authorized to supervise cryptocurrency exchanges, and the Ministry of Finance and the State Fiscal Service – to supervise payment of taxes on income from operations with cryptocurrencies.
In addition, the concept proposes to define the concept of a cryptocurrency and a token. In particular, the token is proposed to be considered a “centralized or decentralized unit of accounting, which is based on mathematical calculations using a computer network and has cryptographic protection.” “Cryptocurrency is a token that functions as a way of exchanging and preserving value,” the commission said on the website.
CRYPTOCURRENCY MARKET, NATIONAL COMMISSION, REGULATOR, STOCK MARKET
One troy ounce=31.10 grams
PepsiCo Ukraine, one of the largest producers of food and beverages, is considering the localization of production of Lay’s chips. “PepsiCo Ukraine to further meet the demand of consumers is working to improve the efficiency of work. Localization of production is one of the ways. To this end, we are studying and analyzing the Ukrainian agrarian sector, its potential,” the press service of the company told Interfax-Ukraine.
PepsiCo produces chips under the Lay’s brand in Poland. PepsiCo in Ukraine owns five enterprises: a plant for processing fruits, vegetables and juice production (Mykolaiv region), a plant for production of juices, carbonated drinks and cold tea (Mykolaiv region), Kharkiv Dairy Plant (Kharkiv), Kyiv Dairy Plant (Kyiv region), where Agusha baby food factory, launched in 2012, is also located.
