- The National Bank of Ukraine (NBU) is implementing new measures to restrict transfers between cards and operations with self-service terminals, potentially including P2P transactions of crypto exchange clients. These measures are aimed at curbing tax evasion and reducing opportunities for manipulation and circumvention of the law.
- The restrictions will be in effect for the duration of martial law and will impact transaction volume, number, and maximum cash transfers through terminals.
- Proposed amendments to the law “On Payment Services” have been put forth by the NBU to tighten supervision over financial counterparties, as confirmed by the head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, Daniil Getmantsev.
- Lawyers suggest that P2P transactions on Bitcoin exchanges could potentially fall under the new restrictions, although there is no final agreement on this yet and a clear position will be determined after consultations with the relevant committee of the Verkhovna Rada.
- The NBU does not recognize cryptoassets as a means of payment, and cryptocurrency platforms have suspended operations with hryvnia bank cards in Ukraine since 2023.
- The NBU is collecting data on several cryptocurrency platforms and maintains constant supervision over compliance with existing legislation and regulations.
Latest
The NBU announced the development of measures to limit transfers between cards
