NBU postponed transition period to launch digital hryvnia

06 April 2021, 18:43 | Finance and Banking
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The National Bank of Ukraine (NBU) postponed the transition period to resolve issues related to the issue of electronic money until June 15, 2021. This was reported by the press service of the regulator..

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The relevant norms are contained in the Resolution of the Board of the National Bank of April 5, 2021 No. 28 "

The NBU reported that in the fall of last year, they modernized the regulation of the electronic money market and harmonized it from the legislation of Ukraine and the EU in the field of financial monitoring..

Among the most important key changes provided for by the new regulatory rules are: the need to identify users of electronic money; setting new limits for transactions with electronic money; tightening requirements for banks issuing electronic money to control the activities of commercial agents; increasing the level of protection of the rights of users of electronic money. Help The National Bank at the end of 2016 launched a research project on the possible introduction of electronic hryvnia - a national currency based on blockchain technology, which can minimize transaction costs for transferring money from one participant in the Ukrainian payment market to another and simultaneously carry them out at almost instantaneous speed.



The National Bank of Ukraine (NBU) continues to explore the possibilities of launching its own digital currency - the so-called electronic hryvnia (e-hryvnia). Within the framework of this project, the National Bank has released a limited amount of electronic hryvnia into circulation.

Also, transactions were carried out using this currency. They were tested by working groups with the participation of the NBU, volunteer companies and the World Bank.. This is reported by "




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