Ukraine restricts Bitcoin purchases
The National Bank of Ukraine, in the midst of martial law and in order to prevent capital flight, prohibited the acquisition of this cryptocurrency with the local currency
Amid martial law, the National Bank of Ukraine (NBU) restricted purchases of the Bitcoin cryptocurrency.
As indicated by the financial institution, this seeks to prevent the outflow of capital in the midst of the war that is taking place with Russia.
Ukrainians are now allowed to buy bitcoin and other cryptocurrencies only with foreign currency, with total monthly purchases capped at $3,300. The corresponding limit also applies to international peer-to-peer transactions.
“Relevant changes will help improve the foreign exchange market, which is a necessary requirement for easing restrictions in the future, as well as reducing pressure on Ukraine’s international reserves“, the NBU wrote.
The need to carry out international transactions has grown, according to the Ukrainian institution, given that millions of citizens have been forced to leave their country.
According to the NBU, the Ukrainian government adopted the relevant changes as part of the resolution of the national bank council of April 20, 2022, which entered into force on Wednesday.
K. Tovar
Source: Cointelegraph
