Security Service of Ukraine (SBU) has shut downwardly several crypto exchanges reportedly involved in illegal fiscal transactions since the commencement of 2022.

According to a statement by the SBU on Wed, the network of "clandestine cryptocurrency exchanges" were based in the country's capital Kyiv and collectively processed a monthly turnover of $1.1 million in funds linked to criminal activeness.

The SBU'south announcement claimed that the illegal crypto exchanges provided anonymous transaction services, which made them a money laundering chance. Indeed, Ukraine'south state security service stated that some individuals funneled funds through these platforms to organize protests across the country.

Co-ordinate to the SBU, these illegal funds came from e-wallets linked to banned Russian payment processors such as Qiwi, WebMoney and Yandex.

Ukraine's state security service also reportedly recovered computers containing prove of suspected illegal activeness and allegedly forged incorporation documents for the companies during raids of the crypto substitution platforms.

Related: New bill in Ukraine to allow payments in cryptocurrency, says official

The news of the shutdown comes on the heels of a like raid against a warehouse suspected of diverting electricity to mine cryptocurrency using PlayStation four consoles. However, an investigation past Delo, a local business publication, revealed that the facility was being used to generate in-game currency and not for farming crypto.

Meanwhile, as previously reported past Cointelegraph, Ukraine's parliament is because a new bill to legalize crypto payments in the country. Nonetheless, the legislative action volition non change the status quo of Bitcoin (BTC) and cryptocurrencies not being classified as legal tender in Ukraine.

The country's central depository financial institution is also working on a national digital currency project. The National Depository financial institution of Ukraine received official authorisation to issue a central bank digital currency (CBDC) back in July. The Ministry of Digital Transformation partnered with the Stellar Evolution Foundation on a joint strategy for digital avails and CBDCs.