The Central Bank of Ukraine has said that digital assets can be legalized and regulated, but they cannot be used as a legal course. While the National Bank of Ukraine (NBU) opens the door to a market of compliant virtual assets, it is opposed to the recognition of any cryptocurrency as a legal offer.
President of the NBU Andriy Pyshny said on August 7, 2025: “When training the legislative framework for the implementation of virtual assets, taking into account European integration, we must evolve in a clear direction, which is determined by the European MICA directive and the relevant EU.”
“At the same time, this directive only entered into force in January 2025 and it provides a wide enough scope for discretion and national regulations,” he added.
NBU stressed that the “red lines” around monetary sovereignty, payment functions and bypassing capital controls in wartime.
“It is important for us that our” red lines “are clearly observed,” said Pyshny. “Virtual assets cannot be a means of payment, can in no case undermine the effectiveness of our monetary instruments.”
“There should be no transfer of monetary powers and no sapper of the national bank capacities due to the legalization of virtual assets,” he added.
Cryptocurrency will not become a means of payment in Ukraine – it is the National Bank "red line"said the main central banker.
—Dear National Bank of Ukraine, let’s go
Ukraine has a huge over -the -counter market. No one can stop it.
– Thefuzzstone (@thefuzzstone) August 7, 2025
Cryptocurrency will not become a means of payment in Ukraine – it is the National Bank "red line"said the main central banker.
.Discover: Top 20 crypto to buy in August 2025
“The legalization of virtual assets should not undermine our effectiveness to ensure financial follow -up”
According to Pyshny, the legislation in the crypto field should be implemented by the standards of international financial working group (FATF) and relevant European regulations. He cleared: “This should not feed the shadow sector.”
In addition, he suggested that the ideal solution would be if the legalization of virtual assets would allow the market to be destroyed.
“And that means that we may have to have a wider discussion-which will exactly encourage to get out of the shadows these virtual assets which already exist and which belong today,” he added.
Kyiv actively preserves the primacy of the Hryvnia and tests a digital currency of the Central Bank (CBDC), the E-Hryvnia.
Explore: Ukraine offers changes to the law to include digital assets in the national strategic reserve
Ukraine offers changes to the law to include digital assets in the national strategic reserve
On June 10, 2025, Ukraine presented a bill amending the law concerning the inclusion of virtual assets in gold and exchange reserves. The proposed changes will allow digital assets like Bitcoin to be included in the country’s reserves. In particular, the country moves fairly quickly to establish its cryptographic reassessment.
This occurs a few days after Yaroslav Zhelezniak, a Ukrainian legislator who helps supervise the country’s financial and fiscal policy, announced the intention of a crypto reserve.
“We, as deputies, believe that this step will help you integrate Ukraine into global financial innovation,” said Zhelezniak. “Good management of crypto reserves could strengthen macroeconomic stability and unlock new opportunities for digital economic growth.”
Discover: the best new cryptocurrencies to invest in 2025
Main to remember
-
Ukraine has been one of the most crypto-rascal countries, with a great basic adoption motivated by sending funds, donations and native digital communities.
-
The National Bank of Ukraine supports the legalization of crypto in a robust regulatory framework. But the NBU opposes the recognition of any cryptocurrency as a legal offer.
The position “Virtual assets cannot be means of payment”, explains the central bank of Ukraine, during legalization, legalization appeared first on 99Bitcoins.
