The NBU confirmed its position on cryptocurrencies

NBU National Bank of Ukraine
NBU National Bank of Ukraine

The National Bank of Ukraine does not consider cryptocurrencies as a means of payment and advises citizens to take into account the risks when working with this instrument, said First Deputy Head of the NBU Ekaterina Rozhkova.

According to her, the attitude towards digital assets in various jurisdictions is ambiguous.

“We have already witnessed serious turmoil in these markets in the United States, when it turned out that cryptocurrencies that were supposed to be backed by physical dollars turned out to be not backed by anything, and these are very big risks,” Rozhkova added.

In the adopted law “On Virtual Assets”, the NBU is defined as one of the regulators of the cryptocurrency market, responsible for controlling the turnover of virtual assets secured by currency values. Soon this normative act will be finalized taking into account the European regulation of market regulation – MiCA.

At the first stage, the authorities are considering the possibility of implementing only the basic norms of this law.

Recall that in early March, cryptocurrency exchanges announced a temporary suspension of operations through hryvnia bank cards in connection with combating money laundering and tax evasion in the gambling industry.

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