Ukraine Central Bank Wants Crypto Legalization, But Not as Means of Payment: Governor
Main Idea
The National Bank of Ukraine (NBU) supports the legalization of cryptocurrencies but opposes their use as legal tender, emphasizing compliance with European regulations and preventing circumvention of currency restrictions.
Key Points
1. NBU Governor Andriy Pyshnyy stated that virtual assets cannot be a means of payment, calling it a 'red line' for the bank.
2. The legalization of virtual assets should not undermine European regulations or become a tool for bypassing currency restrictions.
3. The NBU is working on 'de-shadowing' digital assets and is involved in the development of the Digital Euro project.
4. Ukrainian lawmakers proposed a draft bill to allow the NBU to include Bitcoin and other cryptocurrencies in its national reserves.
Description
The National Bank of Ukraine (NBU) Governor Andriy Pyshnyy has outlined some of the prerequisites of crypto legalization, adding that, however, the asset class cannot become a means of payment in the nation. In an interview with RBC-Ukraine , he called the use of crypto as a legal tender a “red line” for the NBU. “Virtual Assets Cannot be Means of Payments “ “It is important for us that our ‘red lines’ are clearly observed,” the governor said. “Virtual assets cannot be a means of payment, cannot...
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