Share this article
Ukraine's President Signs Law Allowing Central Bank to Issue a CBDC
The National Bank of Ukraine can now officially launch its own payment token.
Updated Sep 14, 2021, 1:33 p.m. Published Jul 30, 2021, 3:08 p.m.
Make us preferred on Google
Ukrainian President Volodymyr Zelensky signed into a law a bill called On Payment Services that allows the country's central bank to issue a central bank digital currency (CBDC), an announcement on the president's official website said.
STORY CONTINUES BELOW
- The bill regulates how payment services, especially digital ones, can be provided in Ukraine.
- In particular, the bill says the National Bank of Ukraine, the country's central bank, can issue its own digital currency and create a testing environment for fintech startups.
- On June 30, the bill was passed in Ukraine's national parliament, the Verkhovna Rada.
- The National Bank of Ukraine (NBU) has been looking into potentially launching a CBDC since 2018. It built an early prototype on the Stellar blockchain and published a report on the subject in 2019.
More For You
More For You
Crypto group counters Wall Street bankers with its own stablecoin principles for bill
After the bankers shared a document at the White House demanding a total ban on stablecoin yield, the crypto side answers that it needs some stablecoin rewards.
What to know:
- The U.S. Senate's crypto market structure bill has been waylaid by a dispute over something that's not related to market structure: yield on stablecoins.
- The Digital Chamber is offering a response to a position paper circulated earlier this week by bankers who oppose stablecoin yield.
- The crypto group's own principles documents argues that certain rewards are needed on stablecoin acvitity, but that the industry doesn't need to pursue products that directly threaten bank deposits business.
Top Stories
