Digital hryvnia to be introduced after the war – NBU focused on regulating virtual assets
Kyiv • UNN
The digital hryvnia project in Ukraine has been postponed at least until the end of martial law, said NBU Governor Andriy Pyshnyy. At the same time, the NBU is actively working on regulating the virtual asset market, and relevant legislative decisions may be submitted to the Verkhovna Rada next year.
The digital hryvnia project in Ukraine will not be launched for now – its implementation has been postponed at least until the end of martial law. At the same time, the National Bank is already actively working on regulating the virtual assets market. This was announced by NBU Governor Andriy Pyshnyy, as reported by UNN.
Details
According to the head of the National Bank, the digital hryvnia as a project already exists: it has been developed and is formally in the testing stage. However, its full-scale launch in wartime conditions is considered inappropriate.
"It has been postponed until final decisions are made, I would say. Until the end of martial law. When martial law ends, we will also look at the results of this project's implementation in the European Union," he said.
For now, Ukraine will focus on studying the experience of the European Union, where work on the digital euro is underway. The results obtained are planned to be taken into account to determine the further timing and format of the digital hryvnia's implementation.
Pyshnyy separately touched upon the topic of virtual assets, emphasizing that this segment of the financial market has long existed but still lacks clear and comprehensive regulation.
"They already exist in principle. We need to ensure their legalization as soon as possible and make sure that this market does not become a systemic risk to financial stability. It should be an absolutely legal business that generates an appropriate fiscal flow. It should cease to be a source of legalization of income obtained illegally and unlawfully," the NBU Governor noted.
Thus, in the near future, the state's focus will not be on launching the digital hryvnia, but on creating clear and safe rules for the circulation of virtual assets that will not threaten the country's financial stability and monetary sovereignty.
Recall
The National Bank of Ukraine set the official exchange rate of the dollar for February 25 at 43.24 hryvnias, which is 2 kopecks less than the day before. The euro exchange rate is 50.96 hryvnias.