The central bank of Ukraine sees crypto as a threat to macro-financial stability and a promising opportunity for better payments at the same time.
Ukraine is the second largest state by territory in Eastern Europe. According to the International Monetary Fund, Ukraine’s economy is ranked 50th in the world by nominal GDP and purchasing power parity. In terms of cryptocurrency, it was stated in 2014 that all trades using virtual currencies and all benefits from selling them is allowed only for registered financial organizations, such as banks. In 2017, the Ukrainian National Bank didn’t admit Bitcoin as real money without certain regulation. By 2018, Ukraine has almost finished legislation aimed at regulating all operations with digital assets. Recently, the Ukrainian National Bank has expressed the readiness to collaborate with the Bitcoin foundation to work on the new project called Ukrainian Bitlicense.
While tens of millions worth of crypto were donated to Ukraine in the last year, pro-Kremlin groups have also leveraged digital currencies to buy military supplies and spread propaganda.4478
Following the temporary suspension from Ukraine’s central bank, crypto exchanges like Binance and Kuna made official announcements informing investors about the inconvenience.17400
The adoption of crypto law in Ukraine has been slowed mainly due to the need to adapt it to tax and civil codes, an official told Cointelegraph in an exclusive interview.7408
Since Russia’s invasion a year ago, there’s been $28.9 million in Ether donated to Ukraine, as well as $22.8 million in Bitcoin and $11.6 million in Tether.6864
Russian military forces invaded areas of Ukraine in February 2022, and workers at businesses including Everstake have faced life in shelters and the constant threat of shelling.10426
Among the education centers involved include colleges in Australia, Cyprus and Germany, Nigerian-based tech hub Utiva, Women in Tech, and two Ukrainian organizations.8505
Core Scientific estimates that canceling the agreement with Celsius will provide $2 million in revenue per month as long as Bitcoin stays around $16,700.5954
Ukraine continues adopting cryptocurrency payments with crypto exchange Binance amid the ongoing war with Russia.10122
Is Bitcoin really bringing freedom to the world? Experts discussed the complexities of using Bitcoin as a tool for emancipation on a panel at Pacific Bitcoin.2678
One new project attempts to help bankless Ukrainian refugees, while another hopes to streamline international Red Cross projects.5603
Cryptocurrency has evolved over the last decade, but Krugman is still hung up on Bitcoin's 2008 white paper.9219
The Advisory Council on the Regulation of Virtual Assets held its first meeting, dedicated to adjusting the National Tax Code to the crypto market.6051
Sergey Vasylchuk, the CEO of Everstake, said individuals behind Russian propaganda used the fall of FTX "to spin yet another tale about money laundering."5143
One of the design options for the Ukrainian CBDC describes the e-hryvnia available for usage in crypto exchange operations.3358