NBU banned the purchase of cryptocurrencies from hryvnia accounts

NBU banned the purchase of cryptocurrencies from hryvnia accounts

NBU banned the purchase of cryptocurrencies from hryvnia accounts

The National Bank of Ukraine introduced additional restrictions on cross-border transactions of citizens that affected, among other things, cryptocurrency transactions.

According to the order of the NBU, individuals are temporarily prohibited from conducting quasi-cash transactions from hryvnia bank accounts. Cross-border P2P transfers in the national currency are limited to UAH 100,000 per month.

The use of own foreign currency for quasi-cash transactions and international P2P transfers has a total limit of UAH 100,000 equivalent per month.

Quasi-cash transactions include the purchase of cryptocurrencies, replenishment of brokerage or forex accounts, replenishment of electronic wallets, purchase of gift certificates, transfers in favor of betting companies, payment of traveller’s checks, and others.

Thus, the regulator intends to prevent the outflow of capital from the country under martial law.

The introduced restrictions do not apply to the use of payment cards abroad and in Ukraine to pay for goods and services.

Recall that since March 16, PrivatBank has temporarily banned its customers transfer hryvnia to cryptocurrency exchanges. Binance representatives confirmed in a comment to ForkLog that users “are experiencing problems with such transactions.” However, then the restriction did not affect the market of Ukrainian trading platforms.

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