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19.11.2018 | 16:24

TYME sued against NBU

TYME, international payment system, refers to the court to declare as invalid the abolishment of its registration by the NBU

TYME, international payment system, suited against the NBU to recognize the NBU's Resolution #164 dated 14.06.2018 as invalid. The Resolution abolished the registration of TYME. 

It was reported by the company. 

The lawsuit requires the court to renew all the licenses the regulator had revoked to execute the Resolution as well as to renew the registration of the system and its members. 

As to the NBU's leadership, given resolutions were approved basing on data from the Securities Service of Ukraine that give clear evidence on TYME's violations of the regulator's requirements that lead to exposure of Ukraine's national security. 

TYME reports that the company has applied including via lawyers requests to provide mentioned documents for examination.

The answers of NBU and SSU didn't provide the documents. 

The company assumes the activities of SSU and NBU are unlawful and of criminal character. 

In 2015, the SSU applied to the NBU on TYME's violations. The NBU conducted non-scheduled inspection of TYME and didn't find evidences to confirm the SSU's accusations. 

The NBU's resolution halted all the business activities of TYME as well as TYME members' projects including non-residents of Ukraine. Million users of TYME services negatively respond the halt. 

TYME shareholders, partners and members including international investors sustained financial and reputation losses. 

Recall, the NBU cancelled the registration of TYME, international payment system. 
The base for the NBU's Resolution was receipt of documentary evidences from the SSU on TYME's money transfers linked to Russian payment system, which is prohibited in Ukraine, that expose Ukraine's national security. 

References in the article: scandal, lawsuit, court, nbu, tyme
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