03.08.2021 News

Central Bank of Ukraine allowed the issue of digital currency

Ukraine is interested in the development of cryptocurrency. The National Bank of Ukraine has observed and analyzed the need to introduce its own digital currency (CBDC).

President Volodymyr Zelenskyy signed the Law on Payment Services. This means that the National Bank will be able to issue its national digital currency. In addition, the NBU will need to start cooperation with private startups that deal with payments.

The law will make it possible to start testing tools and services based on innovative technologies.

Also, at the end of June, the Open banking project was approved. This will allow third-party companies to gain access to the financial information they need to develop new applications and services.

The law also stipulates that it is necessary to adapt Ukrainian legislation to the legal framework of the European Union. This will make it possible to integrate the country’s payment system with the EU system.

Moreover, this year, the Ministry of Digital Transformation of Ukraine signed a partnership agreement with the Stellar Development Foundation to develop an ecosystem of digital assets.

More and more countries are realizing the need to develop a cryptocurrency market industry.

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