Bitcoin Foundation Ukraine: Central Bank Warning Isn't a Ban
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....
Related News
The Ministry of Digital Transformation of Ukraine has picked the Stellar Development Foundation (SDF) to develop its central bank digital currency project (CBDC). Ukraine Picks Stellar Foundation to Develop Its Central Bank Digital Currency and National Virtual Asset Strategy According to the official announcement, both parties signed a “Memorandum of Understanding” to deploy Ukraine’s crypto strategy. The National Bank of Ukraine has been exploring CBDC’s for some time, there are reports on the matter since 2016. The agreement will also strengthen the....
The National Bank of Ukraine (NBU), the country's central bank, has issued a Bitcoin warning to regional banks and other financial institutions, the second after an year's gap. The latest warning comes in the wake of Bitcoin's growing popularity within the national borders. According to a Ukrainian daily, a recently held Bitcoin conference in capital Kiev has sparked a series of conferences and meetings among the regional banking institutions, a factor that could lead to an organic Bitcoin adoption rate in the country. But despite growing interests, Bitcoin is still a risky and speculative....
The National Bank of Ukraine has issued a warning to the country’s regional banks, global financial institutions and its executives regarding the financial risks involved in the use of digital currencies like bitcoin. The announcement of the Ukraine National Bank follows the organization’s investigation of the development and the use of emerging financial and payment systems. As a joint initiative, Central Banks of the EU countries and the National Bank of Ukraine warned all banks, payment organizations and executives to fully understand the necessary risks and potential damage when using....
The Central Bank of Egypt (CBE) has issued a fresh warning about cryptocurrency, noting that violators could face imprisonment. The Egyptian central bank’s law “prohibits issuing, trading, or promoting cryptocurrencies, creating or operating platforms for trading it, or carrying out related activities.”
Crypto Warning Issued by Egypt’s Central Bank
The Central Bank of Egypt (CBE) has renewed its warning about all types of cryptocurrencies, citing a number of risks, including high volatility, use in financial crimes, and e-piracy, Egypt....
The National Bank of Ukraine (NBU) has come forth with a statement on bitcoin, and they're telling citizens of the usual risks echoed a good number of times now from central banks around the world - warning that the bank shall not be responsible for the loss of any digital currency holdings. But perhaps more interesting is a call for bitcoin businesses that work as payments systems to register with the NBU: In accordance with Article 9 of payment organizations payment systems, payment systems participants and payment infrastructure service operators have the right to perform activities in....