Central Bank of Ukraine Bans Buying Crypto with Local Currency

The Central Bank of Ukraine bans the purchase of cryptocurrencies with hryvnia
 Central Bank of Ukraine Bans Buying Crypto with Local Currency
READING NOW Central Bank of Ukraine Bans Buying Crypto with Local Currency

The Central Bank of Ukraine banned the purchase of cryptocurrencies with hryvnia.

individuals can only buy crypto using foreign currency up to 100,000 Ukrainian hryvnia ($3,400) per month, the central bank said in a statement.

Ukraine continues to take measures to prevent inefficient capital outflows from the country within the scope of strict management.

Ukraine officially legalized crypto last month, determining the legal status, classification, ownership, and regulators of virtual assets.

Ukraine has received over $100 million in crypto donations since the Russian invasion.

Russia, which has been subjected to heavy economic sanctions by Western states, plans to start a digital ruble pilot in 2023.

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