Ukraine’s central bank has announced new restrictions on purchases of crypto (and other such “quasi cash’” transactions).
According to an announcement made on April 21 by the National Bank of Ukraine (NBU), holders of bank accounts in the local currency (UAH) are now longer allowed to use these accounts to buy crypto. As for foreign currency accounts (e.g. USD dollar accounts), it is still possible to buy crypto with such accounts, but there is now a limit of UAH 100,000 (roughly USD 3400) per month.
The central bank explained that the purpose of these restrictions was to “prevent unproductive outflow of capital from the country under martial law.” They are still allowing person-to-person transfers to overseas bank accounts (from both local currency and foreign currency accounts), but a limit of UAH 100,000 per month per legal entity applies. The bank went on to point out that “the changes do not apply to the use of payment cards abroad and in Ukraine for payments to pay for goods, works and services that can be carried out without restrictions.”
For example, apparently, “PrivatBank, the largest commercial bank in Ukraine, reportedly prohibited its customers from purchasing BTC with UAH in mid-March.
The central bank’s restrictions have managed to surprise some people since the Ukrainian government “has been actively working to legalize cryptocurrencies amid martial law.” As you may already know, on March 16, Ukraine’s Ministry of Digital Transformation issued a press release to announce that President Volodymyr Zelensky had just signed “the Law of Ukraine ‘On Virtual Assets’, which was adopted by the Verkhovna Rada of Ukraine on February 17. “
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
CoinCu News
Bitfinex data leak allegedly by FSOCIETY includes 2.5TB of exchange data and 400K users' details.…
According to Parsec, Friend Tech v2's launch disappointed many, with 95% users unable to claim…
LayerZero sybil airdrop farmers offered a 15% allocation incentive; non-compliance results in an 85% reduction.
New MakerDAO tokens, NewStable and NewGovToken, were introduced to improve stability and governance.
Grand Cayman, Cayman Islands, May 3rd, 2024, ChainwireProtocol launches, growth trajectory, and industry-leading technology point…
Bitcoin and Ethereum options contracts worth $2.4bn expire on May 3, potentially causing market volatility.…
This website uses cookies.