Central Bank of Ukraine Supports Crypto Industry, Fears Cryptocurrency
The National Bank of Ukraine recognizes the benefits of endorsing crypto innovations but also fears cryptocurrencies could gain ground on the national fiat. Announcing its monetary policy guidelines for the near future, the regulator noted it’s going to defend the status of the hryvnia as the only legal tender in the country. Bank of Ukraine Won’t Let Crypto Replace Fiat Money Under the current administration in Kyiv, Ukraine has taken steps to regulate its expanding crypto space. Earlier this month, the Ukrainian parliament adopted a law “On Virtual Assets”....
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Ukraine's local chapter of the Bitcoin Foundation has spoken out against a recent statement by the central bank concerning the legal status of bitcoin in the country. In a document issued last month, the National Bank of Ukraine (NBU) says it considers bitcoin "a money substitute that has no real value, and cannot be used by individuals and legal entities in Ukraine as a mean of payment". The central bank continues that bitcoin is a "high risk factor" in financial transactions and that the institution has no responsibility for transactions made with the use of cryptocurrency and any....
National Bank of Ukraine is hiring a blockchain expert who will likely support its digital currency project. The vacancy has been announced as the financial institution prepares to pilot e-hryvnia salary payments for government workers as early as this year. NBU Posts Blockchain Developer Ad on Linkedin The central bank of Ukraine is looking to employ a blockchain developer with promises of career growth opportunities and a private sector salary. A job posting describing the role’s responsibilities and the benefits candidates may expect has been recently published on Linkedin by....
Legislators have given their nod to the Ukraine crypto bill, making the use of crypto assets in the country easier as Ukraine teeters on the verge of a military confrontation with Russia. With 272 votes, the Ukrainian parliament gave its thumbs-up for the Law of Ukraine on Digital Assets. The measure required only 226 affirmative […]
Privatbank, the largest commercial bank in Ukraine, has temporarily halted transfers in national currency to digital asset exchanges. The financial institution explained the move with restrictions imposed by the country’s central bank under the current martial law. Leading Bank in Ukraine Bans Clients From Sending Hryvnia to Crypto Trading Platforms Ukraine’s largest bank in terms of assets, Privatbank, has prohibited its clients from transferring funds in Ukrainian hryvnia, the national fiat currency, to exchanges trading cryptocurrencies. The temporary ban has been....
The central bank of Ukraine has capped withdrawals of cash in national fiat and banned those in foreign currency. The monetary authority says the measures aim to ensure the functioning of the nation’s financial system under the martial law introduced in response to Russia’s military offensive.
National Bank of Ukraine Restricts Hryvnia Withdrawals, Fixes Exchange Rates
As citizens were lining up at ATMs and bank offices on Thursday, the National Bank of Ukraine (NBU) adopted a resolution limiting daily cash withdrawals in local currency to 100,000 hryvnia (approx.....