Individuals may only purchase crypto using foreign currency up to a value of 100,000 Ukrainian currency ($3,400) per month. For more detail, you can read this article "How Ukraine's Central Bank Bans Crypto Purchases in Local Currency: What Is The Currency Of"
What Is The Currency Of Ukraine?
Since September 2, 1996, the hryvnia or hryvnya has served as the currency of Ukraine.
How Ukraine's Central Bank Bans Crypto Purchases in Local Currency
Invoking martial law that has been in place since Russia's invasion, the central bank of Ukraine has outlawed the purchase of cryptocurrencies using the country's currency.
- The National Bank of Ukraine stated that individuals are only permitted to purchase cryptocurrency using foreign cash up to a value of 100,000 Ukrainian hryvnia ($3,400) every month.
- Purchasing cryptocurrencies falls under the category of "quasi cash transactions," which also includes reloading electronic wallets, Forex or brokerage accounts, and paying with traveler's checks.
- The measures are being taken "to prevent unproductive outflow of capital from the country under martial law."
- Last month, Ukraine formally legalized cryptocurrencies in the nation. The National Commission on Securities and the Stock Market will now be in charge of regulating virtual assets' legal standing, classification, ownership, and regulators.
- Since the Russian invasion, Ukraine had gotten at least $100 million in cryptocurrency donations.
"How Ukraine's Central Bank Bans Crypto Purchases in Local Currency: What Is The Currency Of Ukraine?" I hope this article can provide you with a better understanding of how crypto purchasing in local currency is banned in Ukraine.
