- – Some statements come to the fore by the National Bank of Ukraine (NBU), the Central bank of Ukraine. This statement, which is especially related to cross-border money and asset transfers for users, also raises some influences.
- – Additional restrictions are planned regarding the measure that will affect crypto transactions in terms of cross-border transfers of money and assets. It seems that there will be restrictions on semi-cash transactions in this regard. For this reason, it is thought that crypto users will be affected.
As stated in the official notifications of the National Bank of Ukraine, some statements were made. One of the most important of these is the temporary prohibition of users from performing transactions from fiat hryvnia bank accounts. It also seems that there should be a border between cross-border peers in fiat. In this regard, the monthly total limit of transfers between spouses across borders is determined as 3,384 USD. Media outlets’ thoughts on this issue are that it will affect the transactions of users who are interested in crypto.
The Purpose of the National Bank of Ukraine in Restrictions Continues to be Wondered by Everyone!
After the statements of the National Bank of Ukraine, crypto users are wondering why such a sanction and restriction took place. Thereupon, the following information is included in the statement of the National Bank of Ukraine:
- – The National Bank of Ukraine explains that the restrictions on citizens’ cross-border transactions are aimed at preventing the inefficient departure of capital from the country. In this way, it will be ensured that inefficient output will be stopped during the strict management period.
- – They state in the bank’s statements that the purpose of semi-cash transactions is generally realized as investment abroad, bypassing the restrictions of banks, which is prohibited under strict management. The Bank also states that the transactions that take place will cause inefficient capital outflows. For this reason, the bank does not take kindly to the realization of such transactions and partially implements its sanctions and restrictions.
- – The National Bank of Ukraine also states the following regarding the measures it has taken in its statements. With the easing of restrictions, it is also aimed to reduce the pressure on Ukraine’s international reserves. It will also contribute to the improvement of the foreign exchange market, which is one of the most important prerequisites in this regard.
The National Bank of Ukraine does not focus directly on crypto in the details it realizes in its bank statements. However, Forklog states that the purpose of the bank is to purchase cryptocurrencies for forex transactions and traveler’s checks, as well as for gift card purchases and payments to intermediary institutions, as well as semi-cash transactions.
In mid-March, PrivatBank, one of the Ukrainian banking giants, decided to impose a ban, according to a situation that occurred. Most importantly, it banned its clients from transferring fiat hryvnia to crypto exchanges at the request of the NBU. PrivatBank, which has temporarily realized this situation, also announced that there were problems with some transactions at Binance. However, Ukrainian crypto trading platforms continue their explanations on these issues, claiming that the measures will not affect anyone.
- With the realization of restrictions, the explanations of Ukrainian crypto exchanges come to the fore. With these recent restrictions, it will be seen how crypto users will be affected by the situation. Therefore, crypto users continue to perform their transactions with restrictions and provide transactions in accordance with the rules.