Ukraine's Central Bank Governor: Hopes to legalize cryptocurrencies, but does not want to use them as a means of payment

PANews reported on August 8th that, according to Cryptonews, the Governor of the National Bank of Ukraine (NBU), Andriy Pyshnyy, explicitly stated that cryptocurrencies cannot be used as a means of payment in the country, calling this a "red line" for the central bank. He emphasized that the legalization of cryptocurrencies must not undermine the effectiveness of the central bank's monetary policy tools, nor serve as a tool for circumventing foreign exchange controls in wartime. Pyshnyy noted that the legalization of cryptocurrencies must comply with the standards of the FATF, the international anti-money laundering organization, and relevant EU regulations. He also called for the "de-shadowing" of digital assets to enhance the international reputation of Ukraine's financial sector. The National Bank of Ukraine is collaborating with the European Central Bank, the German Bundesbank, and other institutions to test the architectural model of the digital hryvnia (e-hryvnia) and is preparing pilot projects involving technical partners.