In the land of sunflowers and uncertainty, the crypto card market is withering like a forgotten bouquet. Weld Money, that once-glorious fintech allowing the masses to spend their digital coins with a Mastercard, is packing its bags and saying goodbye to Ukraine. Users, brace yourselves! Withdraw your funds by next month or risk becoming the proud owner of a digital ghost town.
According to the whispers on social media, military oversight and a fog of regulations have driven this decision. Five years ago, Weld Money emerged like a phoenix, offering a super-app for bank accounts. In 2022, they joined forces with Unex Bank to launch a card that danced with wallets on WhiteBIT and Huobi (now HTX). Imagine paying with USDT, USDC, BUSD, or DAI at any Mastercard-accepting shopāwhat a time to be alive!
Crypto Card Firm Faces Harsh Controls
Reports suggest that Weld Money’s operations have been as smooth as a bumpy road, with military checkpoints and stringent checks turning transactions into a game of hide and seek. Users have been raising alarms since March on the firmās Telegram channel, as every delay chipped away at the seamless withdrawals and payments they once took for granted.
$WELD Money is shutting down due to military & regulatory limits in Ukraine.
Please withdraw funds by June 30 from all wallets & cards.
Support ā via Telegram: @alexeybobok #WELD #WeldMoney #crypto #shutdown #Ukraineā WeldMoney (@MoneyWeld) May 27, 2025
Regulations Hold Back Fintech Growth
In April, Ukraineās securities regulator proposed a delightful plan to tax crypto income at 18% and raise a defense surcharge from 1.5% to 5%. Meanwhile, lawmakers have decided to play a game of āletās stallā with a crucial bill titled āOn Virtual Assets,ā which was supposed to clear the murky waters. Until the rules solidify, any company seeking stable banking ties will think twice before launching new services.
Weld Money isnāt the only one waving goodbye. In January, Kuna, a local exchange, announced it would halt trading. By March, the Economic Security Bureau, citing tax evasion claims, had even taken down its site. And on May 20, wallet provider Trustee Plus stopped new sign-ups, pointing to the same legal fog.
According to fintech leaders, rising costs linked to the war arenāt the only culprits. New cash flow limits make budgeting a Herculean task. When major payment rails misbehave, small startups find it impossible to juggle tech teams and compliance checks simultaneously.
Analysts watching Kyiv believe that passing the OVA bill could be the magic wand needed to turn the tide. Clear rules on profit taxes and military levies might restore some confidence. But letās be realābig global firms with their deep pockets and compliance armies are more likely to stick around.
Ukraine aspires to be a blockchain haven. Yet, until peace and paperwork catch up, local players may find it too risky. For now, customers will be left scrambling to move their funds, while the empty desks at small crypto firms stand as a testament that, in a country under martial law, uncertainty is the real currency.
Read More
- Clash Royale Best Boss Bandit Champion decks
- RAVEN2 redeem codes and how to use them (October 2025)
- Kingdom Rush Battles Tower Tier List
- Clash Royale Furnace Evolution best decks guide
- Delta Force Best Settings and Sensitivity Guide
- Cookie Run: Kingdom Boss Rush Season 2-2 Guide and Tips
- Ben Stiller Nearly Played a Doctor in Severance Season 1
- Kingdom Rush Battles Hero Tier List
- Seven Knights: ReBIRTH Heroes Tier List
- Star Trek: Strange New Worlds Promises More āAdventureā in the Final 2 Seasons
2025-05-29 01:19