Ukraine Protestors Turn to Bitcoin to Ease Cash Crisis
The dust is yet to settle on the recent, often violent protests in Ukraine that began last November and saw at least 82 people killed and hundreds injured, many seriously. President Viktor Yanukovych was removed from office and has gone into hiding. On the ground in the capital, Kiev, particularly around the protests' focal point, the central square known as Maidan Nezalezhnosti or simply 'Maidan', there are thousands of people volunteering to deal with the aftermath as winter drags on. Field surgeries and hospitals treat the wounded, kitchens feed the crowds, blankets and clothing are....
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Residents of Donetsk panic as they try to withdraw cash from local ATMs. Photo via Новости Донбасса. The current political and economic environment in Ukraine has led to credit downgrades for local banks, a currency devaluation, capital controls, and ATMs running out of cash. Before this article continues there is one thing that needs to be mentioned: Bitcoin users not affected. While Bitcoin obviously couldn't help when it comes to preventing the violence currently taking place on the streets of Kiev, it at least helps people who want to protect their wealth in times of political....
The decision to transition to electronic money was not entirely unexpected. Central banks all over the world are contemplating the concept of electronic money. Ukraine is on that list, and it looks like the Hryvnia will go digital in 2017. Additionally, there are big plans on the table to introduce blockchain technology in the country. One of the blockchain-based projects will focus on transferring state registers in Ukraine. Big changes will be coming to Ukraine’s economic ecosystem. Similarly to other countries around the world, there is a large focus on digitisation and blockchain....
The government of Moldova has decided to suspend crypto mining activities in the country as it’s facing a major energy crisis. The move is part of emergency measures to reduce power consumption with energy supplies dwindling due to the escalating conflict in neighboring Ukraine. Authorities in Moldova Prohibit Bitcoin Minting and Mining Hardware Imports to Save Power Cryptocurrency mining in Moldova has been targeted amid a deepening energy crisis as the winter approaches. The country’s government took steps this week to limit electricity consumption, including imposing a complete ban on....
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.....
The platform will match many donations in crypto, fiat and nonfungible token purchases toward humanitarian help for Ukraine through March 31. Cryptocurrency exchange Crypto.com plans to use its ad time during the 94th Academy Awards on Sunday to air a TV spot regarding the humanitarian crisis in Ukraine.In a Wednesday announcement, Crypto.com CEO Kris Marszalek said the exchange had partnered with the International Committee of the Red Cross, or ICRC, to launch a campaign aimed at helping those suffering under war-torn conditions in Ukraine. The CEO did not specify what the campaign would....