Ukraine’s central bank governor open to legalizing crypto, but warns of ‘red lines’
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The monetary authority of Ukraine is open to legalizing crypto assets, if that doesn’t cross certain “red lines,” its governor has emphasized in statements for Ukrainian media. Using the likes of Bitcoin for payments, for example, is out of the question for the central bank’s top executive. Cryptocurrency transactions should not interfere with martial law controls, either. NBU draws lines in the sand for crypto in Ukraine The National Bank of Ukraine (NBU) is ready to discuss crypto legalization, its head has clearly indicated. Chairman Andriy Pyshnyy shared his views on the matter in a broad interview with RBC-Ukraine, touching on a wide range of topics, from the effects of war on the country’s economy to getting rid of the Russian word “kopeck” on Ukrainian coins. Cryptocurrencies cannot be legal tender in Ukraine and must not impede the NBU’s policies, the governor stressed in his conversation with the business news outlet, also quoted by Ukrinform, the country’s official news agency. Pyshnyy stated: “It is important for us that our ‘red lines’ are clearly followed. Virtual assets cannot be a means of payment and cannot in any way undermine the effectiveness of our monetary instruments.” The central bank should not lose any powers or capabilities as a result, the official insisted. In his view, crypto shouldn’t be a tool to circumvent restrictions imposed under martial law to balance the monetary market and ensure sufficient gold and foreign currency reserves. Pyshnyy highlighted the importance of empowering regulators to deal with any violations of consumer rights in the digital currency market as well as the need to ensure competent regulation and provide technical solutions for effective supervision. He underscored that Ukraine’s legislation must implement the standards adopted by the Financial Action Task Force (FATF) on money laundering and the new European rules within…
Filed under: News - @ August 8, 2025 11:33 am