After a year and a half of investigation, the National Bank of Ukraine (NBU) stated that Trustee Plus provides payment services in the country without the appropriate license. The regulator has ordered the company to cease some of its operations related to money transfers without opening a bank account and P2P payments in euros, according to a statement from the NBU.
The press service noted that such activities require a separate permit under Ukrainian law.
Trustee stated that it considers the regulator’s claims to be partially unfounded and insists on the legality of its work through partners in the EU. According to Trustee CEO Vadym Hrusha, the National Bank withdrew five of the seven initial claims, while the rest relate exclusively to the P2P platform and euro transfers.
“The NBU’s decision sets a dangerous precedent for the entire market, effectively banning P2P interaction between users. At the same time, customer assets are safe, and the service continues to operate in the EU in full compliance with the law,” he emphasized.
The company recalled that back in the spring of 2025, it stopped registering new users from Ukraine, but the terms of service remained the same for existing customers.
Experts note that the situation surrounding Trustee Plus demonstrates the lack of a clear regulatory framework for crypto and fintech services in Ukraine. The precedent set by the largest platform could be a signal to other players about the risks of doing business without a specific law on virtual assets. In the long term, this could slow down the development of the crypto market in the country and encourage Ukrainian companies to move their activities to EU jurisdictions, where the rules are more transparent.
