Stop the safe haven to Bitcoin? – Difficult, even for its worst detractors, to make fun or denigrate Bitcoin (BTC) when we see the place that the king of cryptocurrencies has taken in the conflict between Ukraine and Russia. If the government of Zelensky still calls for cryptocurrency donations, local banks have already ban on accepting outgoing cross-border transfers of hryvnias (the national currency) to crypto-asset trading platforms. Now, even in Ukraine, it is forbidden to buy bitcoins en hryvnias.
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Purchases of bitcoin prohibited in hryvnia, and limited in foreign currencies
By invoking the martial lawin force in Ukraine since February 24, 2022 and the Russian military intervention, the Ukrainian central bank prohibits the purchase of cryptocurrency using the national currency, the hryvnia.
In his publication dated April 21, the National Bank of Ukraine states that, even in foreign currencyindividuals will be boundaries in their purchases of bitcoins and other cryptos. Thus, citizens will only be able to buy up to 100,000 hryvnia per month (about 3400 dollars) of digital assets with their money (and therefore excluding hryvnia).
The purchases and exchanges of cryptocurrencies are indeed considered as “near-cash transactions” by the central bankers, which makes them fall under this new addition of the restrictions, in order “to prevent the unproductive outflow of capital from the country”.
A week before the start of the conflict, on February 17, 2022, the Ukrainian Parliament nevertheless gave a legal status to Bitcoin and cryptos, via the vote of the Virtual Assets Law. This law has also been officially ratified by President Zelensky despite the war, on March 16, 2022. Clearly, that was not enough to prevent this hopefully banishment from digital asset exchanges. temporarythe time to find peace.
A bit like geopolitics, crypto is sometimes complex to understand. If Bitcoin and cryptocurrencies are the object of all desires, it is because they are… precious! Jump on the crypto bandwagon and come take advantage of an exceptional offer: up to €200 in free cryptocurrencies when you register on the Swissborg platform (affiliate link, for a minimum deposit of €50).