Concord Bank
Bitcoin rose 1. 2% to $115,604.3 on September 12, showing a 4.9% increase for the week. Other cryptocurrencies, including Ether and XRP, also showed significant growth.
Concordia co-founder Yulia Sosedka spoke about the unexpected decision of the NBU to liquidate the bank due to "mis-coding", despite the absence of claims from Visa and Mastercard. The bank won two lawsuits, but the Supreme Court refused to hear the case, citing the lack of shareholders' right to sue the National Bank.
September traditionally strengthens the hryvnia due to seasonal revival and agricultural exports. The expert predicts a stable exchange rate in September, but a possible weakening in October.
The Verkhovna Rada supported in the first reading the draft law on the legalization of virtual assets. The document provides for the taxation of profits from crypto operations.
Shareholders of Ukrainian banks lack legal instruments to protect their business due to the unlimited power of the NBU and the DGF. The Supreme Court closed the case of Concord Bank, overturning the decisions of lower instances.
Generation Z, numbering almost 2 billion people, is forming new standards for relationships with financial institutions. They demand speed, personalization, and technological solutions, and also value security and transparency.
Bitcoin fell to a two-month low due to significant sell-offs from inactive “whale” wallets and a decrease in ETF inflows. This also coincided with seasonal caution, as September historically sees a decline.
An opinion column by financial expert Olena Sosedka.
The Supreme Court closed the case of Concord Bank against the NBU and the Deposit Guarantee Fund, citing Law No. 590-IX. This decision deprives shareholders of liquidated banks of the right to judicial protection, despite previous decisions of lower courts.
The Supreme Court ruled in the case of Concord Bank, effectively depriving shareholders of the right to judicial protection in Ukraine. Now, the only way for them to protect their rights is to appeal to the European Court of Human Rights.
The Verkhovna Rada is preparing to consider a bill on the taxation of crypto assets. This will allow attracting up to UAH 20 billion annually to the budget and integrating Ukraine into global financial markets.
The Supreme Court made a decision in the case of "Concord" bank, which effectively deprived shareholders of access to justice. MP Nina Yuzhanina criticized this decision, calling it confirmation of the unprotected rights of shareholders and the NBU's impunity.