The NBU has banned the Crypsee service for illegal lending disguised as cryptocurrency transactions

The National Bank has found that the Crypsee service was providing loans in hryvnia while disguising them as loans in crypto assets.

This was reported by the NBU’s press service.

The regulator has banned HI-TECH DYNAMICS GROUP LIMITED from providing financial services through this service.

An investigation revealed that while loans were formally issued in USDT, customers were actually granted loans in hryvnia in violation of legal requirements.

The NBU received over 970 complaints from users reporting excessive interest rates, opaque terms, and aggressive debt collection.

Socially vulnerable groups and military personnel were particularly affected, as they were denied the benefits provided by law.

The National Bank emphasized that the service’s activities exhibit signs of illegal financial services, and the identified violations indicate operations outside the legal framework of Ukraine.

The lending trend in Ukraine remains strong, as in December 2025, the volume of hryvnia-denominated loans to businesses and households increased by one-third.

The share of non-performing loans (NPLs) in the Ukrainian banking sector fell to 25% as of October 1, 2025, marking the best result in the past decade.