{"id":561789,"date":"2023-03-09T16:40:00","date_gmt":"2023-03-09T13:40:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ukraines-central-bank-sees-both-promises-and-threats-in-bitcoin\/"},"modified":"2023-03-09T16:40:00","modified_gmt":"2023-03-09T13:40:00","slug":"ukraines-central-bank-sees-both-promises-and-threats-in-bitcoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ukraines-central-bank-sees-both-promises-and-threats-in-bitcoin\/","title":{"rendered":"# Ukraine\u2019s central bank sees both promises and threats in Bitcoin"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4e993d43f3e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4e993d43f3e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ukraines-central-bank-sees-both-promises-and-threats-in-bitcoin\/#%E2%80%9D_Ukraines_central_bank_sees_both_promises_and_threats_in_Bitcoin_%E2%80%9C\" >&#8221; Ukraine\u2019s central bank sees both promises and threats in Bitcoin &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Ukraines_central_bank_sees_both_promises_and_threats_in_Bitcoin_%E2%80%9C\"><\/span>&#8221; Ukraine\u2019s central bank sees both promises and threats in Bitcoin &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvYjA2ODMzY2EtODFiYi00NGIxLTliMGItMjFiMWNlZTg5ZDQzLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>The National Bank of Ukraine (NBU) has expressed a mixed stance on cryptocurrencies such as Bitcoin (BTC) after a year of war in the country.<\/p>\n<p>The central bank of Ukraine sees both good and bad in digital assets, taking a more skeptical <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach to crypto due to financial and economic issues caused by the invasion, according to the NBU press office.<\/p>\n<p>In April 2022, the NBU\u00a0prohibited citizens from buying cryptocurrencies like Bitcoin using the national currency, the hryvnia (UAH), only allowing such purchases via foreign currency accounts. The central bank also set a monthly limit on such purchases, prohibiting Ukrainians from buying more crypto than 100,000 UAH ($3,300)\u00a0worth per month. The restrictions also apply to cross-border peer-to-peer transactions.<\/p>\n<p>The administrative restrictions involving operations with cryptocurrencies in Ukraine are temporary, a press officer for the NBU told Cointelegraph on March 9. The limits will be \u201cgradually weakened as the functioning of the economy and financial market of Ukraine normalizes,\u201d the NBU said, adding:<\/p>\n<blockquote><p>\u201cThe National Bank is taking part in building a system of transparent and understandable regulation, which will contribute to the development of fair and efficient circulation of virtual assets.\u201d<\/p><\/blockquote>\n<p>According to the regulator, the specified restrictions were necessary for Ukraine in order to stabilize the situation in the foreign exchange market and preserve macro-financial stability.<\/p>\n<p>\u201cTransactions with cryptocurrencies can be used to bypass currency regulation, in particular \u2014 as a channel for unproductive capital outflow from the country, which currently poses threats to macro-financial stability,\u201d the NBU representative stated.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Ukraine netted $70M in crypto donations since start of Russia conflict<\/em><\/strong><\/p>\n<p>Ukraine\u2019s central bank also sees risks of \u201csubstitution of the national currency and the emergence of parallel money circulation.\u201d According to the NBU, such risks are especially high during the war and are beyond the effective control of the regulator. \u201cThis can pose a threat to the monetary sovereignty of the state,\u201d the NBU spokesperson noted, adding:<\/p>\n<blockquote><p>\u201cTo minimize such risks, especially during the full-scale war, the National Bank will take a strong position on preventing the narrowing of the scope of application of the hryvnia as the only legal means of payment in Ukraine.\u201d<\/p><\/blockquote>\n<p>Despite taking a cautious approach to crypto during the war, Ukraine\u2019s central bank is still bullish on technological innovations related to digial assets. According to the NBU, there are many promises associated with crypto, including better access to financial services, competition in the field of payment services, the attraction of investments, crypto donations and other benefits.<\/p>\n<p>As such, the central bank supports the need to create \u201ccivilized conditions for the development of the virtual assets market in Ukraine,\u201d the NBU press office stated.<\/p>\n<p>The latest remarks from the NBU came soon after Yurii Boiko, commissioner of Ukraine\u2019s National Commission on Securities and Stock Market, declared that the war\u00a0had no impact on the authority\u2019s regulatory stance. According to the official, Ukraine has continued to follow in the footsteps of the European Union concerning digital asset laws.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ukraine-s-central-bank-sees-both-promises-and-threats-in-bitcoin\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Ukraine\u2019s central bank sees both promises and threats in Bitcoin &#8220; The National Bank of Ukraine (NBU) has expressed a mixed stance on cryptocurrencies such as Bitcoin (BTC) after a year of war in the country. The central bank of Ukraine sees both good and bad in digital assets, taking a more skeptical approach&#8230;<\/p>\n","protected":false},"author":1,"featured_media":561790,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/b06833ca-81bb-44b1-9b0b-21b1cee89d43.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,74889,71939,70934,70868],"class_list":["post-561789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-payments","tag-banks","tag-regulation","tag-ukraine"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/561789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=561789"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/561789\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/561790"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=561789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=561789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=561789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}