In brief
- Ukraine could recover up to $10 billion lost to unregulated crypto activity with more stringent regulation, according to the Royal United Services Institute.
- A new RUSI report noted that Russian actors are exploiting regulatory gaps to fund military procurement and spread drugs.
- Ukrainian lawmakers face a 2025 deadline to align with EU rules and plug financial risks.
Ukraine could recover at least $10 billion in stolen funds and lost tax revenue if it were to implement a more comprehensive cryptocurrency regulation framework, according to a report published by the Royal United Services Institute (RUSI).
The UK-based defence and security think tank warned that without swift action, Ukraine risks further erosion of its finances and security.
“Ukraine-specific risks are primarily connected with the over-the-counter (OTC) activities in the country, its role as a threat hub and the role of crypto in funding procurement of sanctioned components for the Russian military, money mules and others,” the report said.
The report urged Ukraine to narrow its focu
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Author: Callan Quinn
