Simcord Won a Lawsuit Against the National Securities and Stock Market Commission of Ukraine

We would like to inform that during the trial between Simcord and the National Securities and Stock Market Commission (NSSMC), the court of second instance made a final decision, namely: the NSSMC’s actions against Simcord and its products have been recognized as unlawful.

Let us remind you that this trial between Simcord and the NSSMC was due to the long-term personal hostility of A. Bornyakov, the Deputy Minister of Digital Transformation of Ukraine, towards the Company, falsification of the evidence base, and his unfair competition in the virtual asset market (you can learn more by following the link: https://www.facebook.com/alexander.kud/posts/pfbid028iSHVvKDbH5eBYYsiCvJQeMAZ15Z7FENALicuHvXvhxPBYh1XuAqjF2sd23U88z5l).

Previously, we already published the news “Simcord’s Official Position Regarding Misconduct of an Official of the Ministry of Digital Transformation of Ukraine”, where we informed the community about A. Bornyakov’s pressure on the Company since 2019 and the damage caused by his actions (https://www.simcord.com/en/news/simcords-official-position-regarding-misconduct-of-an-official-of-the-ministry-of-digital-transformation-of-ukraine).

Thus, in order to undermine Simcord’s business reputation, A. Bornyakov involved the NSSMC, which included the Bitbon System project in the list of dubious investment projects on its official website. It is worth noting that the case became public and drew close attention from the IT community and the media. More detailed information you can find at the following link: https://my.ua/news/cluster/2023-11-01-falsifikatsiia-dokaziv-ne-dopomogla-zastupniku-mintsifri-o-borniakovu-vigrati-sud-proti-kompaniyi-simkord/23cff324-856a-11ee-9d1a-7ec35f78eabe.

To date, Simcord’s reputation has been fully preserved, despite the attempts of A. Bornyakov to undermine the Company’s activities. The Second Administrative Court of Appeal sided with the Company and supported the first instance court decision, recognizing the NSSMC’s actions against Simcord and the Bitbon System project as unlawful.

You can read the full text of the court decision in favor of Simcord by following the link: https://reyestr.court.gov.ua/Review/118010656.