Ukraine’s central bank has banned the purchase of cryptocurrencies using the country’s local currency, invoking martial law, which has been in effect since the invasion by Russia.
The National Union Bank of Ukraine (NBU) has introduced several measures to reduce capital outflows, including banning the purchase of cryptocurrency with local currency.
Due to Russia’s invasion, the need for international transactions has increased significantly.
In an official statement by the Ukrainian central bank on April 21, several cross-border operations are restricted. Moreover, individuals are prohibited from purchasing cryptocurrencies such as Bitcoin using the national fiat currency, Hryvnia.
Ukrainians can only purchase cryptocurrencies with foreign currencies under the new rules up to a maximum limit of 100,000 hryvnias ($3,300). The limitation also applies to international peer-to-peer transactions.
The National Bank of Ukraine said:
“From now on, individuals will be able to use their
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