The Ukrainian National Bank (NBU) is testing the potential structural model of the E-Hryvnia and is currently preparing to launch a pilot project.
Andriy Pyshnyy, governor of the Ukrainian National Bank (NBU), has set basic conditions to legalize digital currencies, explaining that this category of assets cannot become a means of payment in the country; In an interview with RBC-Ukraine, he described the dependence of digital currencies as a legal currency as a “red line” for the Ukrainian National Bank.
“Virtual assets cannot become a payment method”
The Governor of the Central Bank said: “We are interested in taking into account Our red lines Obviously, virtual assets cannot become a means of payment and will not be allowed to undermine the effectiveness of our cash tools.
The Governor of the Central Bank has also warned that digital assets – in light of the application of martial laws – would become a tool to bypass restrictions on the use of currencies, adding that “the legalization of virtual assets should not limit our ability to guarantee financial monitoring and legislation in this area Apply the standards of the International Financial Work Group (FATF) and relevant European regulations”.
In addition, the governor of the central bank called for “the abolition of digital shadow assets”, which will have a positive impact on the reputation of the Ukrainian financial sector among international partners.
The Ukrainian National Bank heads for the Central Bank digital currency (CBDC), and its portfolio reveals E-Hryvnia electronic currency (E-Hryvnia) plans
The governor of the Ukrainian central bank explained that the bank currently carried out tests on the potential structure of the E-Hryvnia electronic part and is currently preparing for a pilot project with a partner in the technology sector. For his part, the governor stressed that this project presents itself within the framework of the path of European integration for Ukraine, with particular attention to follow to follow the digital euro, and added:
“We want this experimental project to give us the greatest number of information as possible to make a decision on a broader question. At the same time, we closely follow the developments of digital projects for central banks (CBDC) in other countries.”
Although it is too early to fix the date of the launch of the E-Hryvnia electronic currency, Bishni explained that the Ukrainian National Bank is currently coordinated with the European Central Bank and the central banks of the countries of Germany, Belgium, France and Singapore; Last June, Ukrainian legislators submitted a bill which could allow the Ukrainian National Bank to include Bitcoin-BTC and other digital currencies at the origins of its national reserves.
The post of governor of the Ukrainian central bank: we seek to legalize digital currencies without being used as a means of paying first on Arab Cryptonews.
