Ukraine freezes WebMoney bank accounts

Julia Dixon on June 17, 2013

webmoney2Late last week the Ukrainian Ministry of Incomes and Fees froze bank accounts of WebMoney in the Ukraine.

A search of WebMoney’s Keiv office allegedly revealed a number of regulatory violations.  It seems authorities are concerned that WebMoney was issuing electronic money without authorization from The National Bank of Ukraine.

Authorities seized computer equipment and “Over 60 million Hryvnas ($7.5 million) held in the bank accounts of companies which were part of in the illegal system,” according  to the Ministry of Incomes and Fees.

Update: WebMoney Ukraine resumes transactions.

Posted by Julia Dixon

Julia Dixon is the editor of DGCMagazine and is responsible for the quality of all content and produces a large amount of original content for the site. Julia holds a bachelor’s degree in Economics and is an avid student of Austrian monetary theory, with her favourite being the works of Murray Rothbard.

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