Ukraine Government Imposes Regulation on Bitcoin

The initiative to make the statement took the National Bank of Ukraine (NBU) that proclaimed the necessary registration for payment systems and operators of infrastructure for payment systems.

12 Total views
0 Total shares
Ukraine Government Imposes Regulation on Bitcoin

Finally, some clarity from the Eastern Europe side, as businesses in Ukraine that have something to do with Bitcoin would have to be registered and follow the general law.

The initiative to make the statement took the National Bank of Ukraine (NBU) that proclaimed the necessary registration for payment systems and operators of infrastructure for payment systems. In case the named group is not registered with the NBU, its activities are utterly illegal.

NBU, which is the central bank of Ukraine, also points out that no other bank or financial institution can provide legal registration for any Bitcoin enterprise. Together with the announcement the standard warning about the possible risks involved with the Bitcoin trade were made and I am not going to repeat them.

An interesting fact – even though NBU called itself an  official regulator and took control of the situation, there is no intention to provide any guarantees and is not responsible for any loss associated with cryptocurrency.

Seems familiar, isn’t it? So, the Ukraine looked around for guidelines what make of digital coins and how to manage them and the decision came from the good old Washington DC. Well, it still better than the complete lack of regulation.

Anyway, the only question now – what will the rest of the Eastern Europe decide?

×

Hottest Bitcoin News Daily

For updates and exclusive offers, enter your e-mail below.