Ukraine’s New Fiat Restrictions to Boost Popularity of Crypto, Industry Says
The central bank of Ukraine has adjusted the fixed exchange rate of the national currency in U.S. dollars and introduced stricter limits on hryvnia transactions for citizens. The measures are likely to turn more Ukrainians to cryptocurrencies, according to a representative of the local crypto sector. War-Time Hryvnia Limits Expected to Increase Interest in Cryptocurrency The National Bank of Ukraine (NBU) has introduced new rules in response to the changing fundamentals of the country’s economy during an ongoing military conflict with Russia. The monetary authority....
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Ukraine has imposed new rules restricting the Fiat usage, which in return would help boost the crypto economy. The National Bank of Ukraine had introduced certain new rules due to change in the country’s financial fundamental situation due to the ongoing military war with Russia. NBU has now devalued Hryvnia against the US dollar by […]
Crypto has become a more ubiquitous component of the world’s financial infrastructure, which implies that it is inextricably linked to geopolitical conflict — for better or for worse. In a setting when governments are in disarray, counting on traditional banks is risky, and there is a fear of scrutiny. As a result, a largely anonymous […]
The deputy minister of Ukraine’s Ministry of Digital Transformation believes that crypto payments will be allowed in Ukraine similarly to payments deriving from the U.S. dollar. A new cryptocurrency-related bill in Ukraine will allow payments in cryptocurrencies like Bitcoin (BTC) despite not recognizing crypto as legal tender, a government official claimed.Oleksandr Bornyakov, deputy minister of Ukraine’s Ministry of Digital Transformation, is confident that it would be “quite legal to pay with cryptocurrencies” in Ukraine through payment intermediaries enabling crypto-to-fiat....
Ukraine’s strategic path to Bitcoin adoption would likely include nuclear-powered mining, and holding Bitcoin as a state reserve asset.
Despite Ukraine progressing with crypto regulation, locals are reportedly unable to buy Bitcoin using their bank accounts at PrivatBank. While the Ukrainian government has moved to legalize Bitcoin (BTC) amid the ongoing attacks from the Russian military, some of the largest local banks have reportedly banned their clients from buying BTC using the national currency.PrivatBank, the largest commercial bank in Ukraine, has temporarily restricted its customers from purchasing Bitcoin with the national currency, the hryvnia (UAH), industry publication Forklog reported on Thursday.Citing a....