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Ukraine crypto leader: ‘Blockchain will help rebuild my country’

“Michael Chobanian, founder of the Kuna Exchange and president of the Blockchain Association of Ukraine, told the Senate Banking Committee that crypto sent to the relief campaign’s wallet addresses was used to secure humanitarian aid shortly after it was received.

His appearance highlighted a positive side of crypto after a long period where digital assets have mostly drawn criticism on Capitol Hill. The highlight on crypto’s contributions to Ukraine relief could help shape lawmakers’ views as Washington’s focus on crypto regulation intensifies.

“The minute the crypto landed on these addresses, the government could use them immediately,” Chobanian said. “No bureaucracy. We spent that immediately the next day.”

The campaign has already raised more than $50 million, and is aiming to reach $100 million, Chobanian said.

“I see that you are still discussing whether to ban or allow crypto in [the] U.S.,” he said. “I invite all U.S. companies to come to Ukraine and open up there. You can use Ukraine as a sandbox.”

Crypto, he said, “will basically change the world.” Blockchain “will be the technology that we’re going to use to rebuild my country,” Chobanian said.”

Link to the source:

https://www.protocol.com/fintech/michael-chobanian-congress-crypto

Information on the website of the Senate:

https://www.banking.senate.gov/imo/media/doc/Chobanian%20Testimony%203-17-22.pdf

Video of the speech in the Senate with Ukrainian translation:

March 18, 2022

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