for private individuals, enforced on July 21, banks can sell non-cash foreign currency to their customers only if the amounts are deposited for a period of at least three months, without an option to terminate the contract.
The 50,000-hryvnia ceiling for withdrawals from payment cards has now been substituted with a weekly limit of 12,500 . Peer-to-peer transfers abroad from cards issued by Ukrainian banks have been cut from 100,000 hryvnia to 30,000 hryvnia . And the limit for cross-border settlements with hryvnia cards has been set at 100,000 per month.
All the measures introduced since the beginning of the war are temporary and allow the economy to survive, assured NBU Governor Kirill Shevchenko. However, they are seriously affecting Ukrainians, especially those millions of the nation’s citizens who have been forced to leave the country and are still unable to return.
The latest NBU restrictions may lead to a surge of Ukrainians’ interest in cryptocurrencies, the founder of the Ukrainian crypto exchange Kuna, Mikhail Chobanyan,for the crypto news outlet Forklog. “We expect an increase in turnover and use of cryptocurrencies. In Europe, 100,000 hryvnias is nothing,” the entrepreneur added.
Chobanyan also noted that the new limits will hinder the work of volunteers, since most of the humanitarian assistance is purchased with cards issued by Ukrainian banks and owned by individuals. “Now we will completely switch these flows to crypto,” said Chobanyan who described the central bank’s policy as aggressive and warned that Ukrainian banks and the state budget will be the losers.
Source: News Formal (newsformal.com)
Ukraine’s New Fiat Restrictions to Boost Popularity of Crypto
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Maybe Tether should think about launching new coin.
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Can't blame the Ukrainian government...they are at war. Difficult times, difficult decisions.
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Sure it does.
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