Ukraine Hardens Stance on Bitcoin as Russia Lowers Proposed Penalties for Crypto Users
The virtual currency Bitcoin cannot be used in Ukraine as a means of payment. The above was announced in a post on the official website of the National Bank of Ukraine (NBU). According to the regulator, Bitcoin and other cryptocurrencies represent "money substitutes.” It should be clarified, however, that the announcement does not officially ban Bitcoin as no actual law was passed to date. The NBU simply reiterated its previous position, warning citizens to be vigilant of potential scams with Bitcoin, which is “often used for illegal activities.” "In order to protect consumers' rights and....
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