{"id":41214,"date":"2025-08-08T16:01:57","date_gmt":"2025-08-08T16:01:57","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=41214"},"modified":"2025-08-08T16:01:57","modified_gmt":"2025-08-08T16:01:57","slug":"virtual-assets-cannot-be-means-of-payments-says-ukraine-central-bank-while-backing-legalization","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=41214","title":{"rendered":"\u201cVirtual Assets Cannot be Means of Payments,\u201c Says Ukraine Central Bank While Backing Legalization"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">Ukraine\u2019s central bank said that digital assets can be legalized and regulated, but they can\u2019t be used as legal tender. While National Bank of Ukraine (NBU) is opening the door to a compliant virtual asset market, it is opposed to recognizing any cryptocurrency as legal tender.<\/span><\/p>\n<p>NBU Chairman <span style=\"font-weight: 400\">Andriy Pyshny <a href=\"https:\/\/www.rbc.ua\/rus\/news\/mi-ydemo-lezu-andriy-pishniy-inflyatsiyu-1754480569.html\" rel=\"nofollow\" target=\"_blank\">said<\/a> on 7 August 2025, \u201cWhen forming the legislative framework for the implementation of virtual assets, in view of European integration, we must move in a clear direction, which is determined by the European MICA directive and the relevant EU Regulations.\u201d <\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cAt the same time, this directive entered into force only in January 2025 and it provides a fairly wide scope for discretion and national regulation,\u201d he added.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">NBU emphasized that \u201cred lines\u201d around monetary sovereignty, payment functions and circumvention of capital controls during wartime.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cIt is important for us that our \u201cred lines\u201d are clearly observed,\u201d Pyshny said. \u201cVirtual assets cannot be a means of payment, cannot in any way undermine the effectiveness of our monetary instruments.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThere should be no transfer of monetary powers and no undermining of the capabilities of the National Bank due to the legalization of virtual assets,\u201d he added. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/274c.png\" alt=\"\u274c\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\">Cryptocurrency will not become a means of payment in Ukraine \u2014 this is the National Bank&#8217;s &#8220;red line&#8221;, said the main central banker.<br \/>\u2014-<\/p>\n<p>Dear National Bank of Ukraine, here you go <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f595-1f3fb.png\" alt=\"\ud83d\udd95\ud83c\udffb\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\">.<\/p>\n<p>Ukraine has a huge OTC market. No one can shut it down.<\/p>\n<p>\u2014 TheFuzzStone (@thefuzzstone) <a href=\"https:\/\/twitter.com\/thefuzzstone\/status\/1953566761351295187?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">August 7, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>DISCOVER:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-crypto-to-buy\/\" target=\"_blank\" rel=\"noopener\">Top 20 Crypto to Buy in August 2025<\/a><\/strong><\/p>\n<h2><strong>\u201cLegalization of virtual assets should also not undermine our effectiveness in ensuring financial monitoring\u201d<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">According to Pyshny, the legislation in the area of crypto should be implement the norms of the International Financial Task Force (FATF) standards and relevant European regulations. He cleared, \u201cit should not fuel the shadow sector.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, he suggested that the ideal solution would be if legalization of virtual assets would allow the market to be de-shadowed.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cAnd this means that perhaps we need to have a broader discussion \u2013 what exactly will encourage bringing out of the shadows those virtual assets that already exist and are owned today,\u201d he added. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Kyiv is also actively preserving the primacy of the hryvnia and testing a central bank digital currency (CBDC), the e-hryvnia.<\/span><\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/ukraine-proposes-amendments-to-law-to-include-digital-assets-in-national-strategic-reserve\/\">Ukraine Proposes Amendments To Law To Include Digital Assets In National Strategic Reserve <\/a><\/strong><\/p>\n<h2 class=\"nnbtc-header__title\">Ukraine Proposes Amendments To Law To Include Digital Assets In National Strategic Reserve<\/h2>\n<p>On 10 June 2025, Ukraine<a href=\"https:\/\/itd.rada.gov.ua\/billinfo\/Bills\/Card\/56556\" target=\"_blank\" rel=\"nofollow noopener\">\u00a0introduced<\/a> a draft law amending the law regarding the inclusion of virtual assets in the gold and foreign exchange reserves. The proposed amendments will allow digital assets like Bitcoin to be included in the country\u2019s reserves. Notably, the country is moving rather quickly to establish its crypto reseve.<\/p>\n<p>This comes days after Yaroslav Zhelezniak, a Ukrainian lawmaker who helps oversee the country\u2019s finance and tax policy, announced the intention of a crypto reserve.<\/p>\n<p>\u201cWe, as members of parliament, believe this step will help integrate Ukraine into global financial innovation,\u201d said Zhelezniak. \u201cProper management of crypto reserves could strengthen macroeconomic stability and unlock new opportunities for digital economic growth.\u201d<\/p>\n<p><strong>DISCOVER:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"noopener\">Best New Cryptocurrencies to Invest in 2025<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<p><span style=\"font-weight: 400\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <\/li>\n<p><\/span><span style=\"font-weight: 400\">Ukraine has been one of the more crypto-forward countries, with high grassroots adoption driven by remittances, donations, and digital-native communities.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <\/li>\n<p><\/span><span style=\"font-weight: 400\">The National Bank of Ukraine supports legalizing crypto within a robust regulatory framework. But NBU opposes recognizing any cryptocurrency as legal tender.<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/bitcoin-btc\/virtual-assets-cannot-be-means-of-payments-says-ukraine-central-bank-while-backing-legalization\/\">\u201cVirtual Assets Cannot be Means of Payments,\u201c Says Ukraine Central Bank While Backing Legalization<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ukraine\u2019s central bank said that digital assets can be legalized and regulated, but they can\u2019t be used as legal tender. While National Bank of Ukraine (NBU) is opening the door to a compliant virtual asset market, it is opposed to recognizing any cryptocurrency as legal tender. NBU Chairman Andriy Pyshny said on 7 August 2025, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-41214","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/41214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41214"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/41214\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}