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Ukraine forbids buying cryptocurrencies for UAH

Ukraine forbids buying cryptocurrencies for UAH

Ukrainians can only invest foreign currency in digital assets, the total amount of purchases is limited to $ 3.3 thousand per month.

The National Bank of Ukraine (NBU) announced a ban on the purchase of cryptocurrency by individuals for UAH. Now Ukrainians can invest in Bitcoin and other digital assets only foreign currency worth not more than 100 thousand hryvnias ($3.3 thousand) per month. The same limit applies to international p2p transfers.

The National Bank of Ukraine underlined that it strives to prevent capital outflow from the country during martial law. The regulator believes that the new regulations may positively affect the currency market of Ukraine, creating a prerequisite for future easing of restrictions and reducing the pressure on its gold and foreign currency reserves.

Earlier, some Ukrainian banks introduced similar restrictions on their own. In particular, PrivatBank, Ukraine's largest commercial bank, banned its clients from buying BTCs for hryvnias in mid-March.

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