- Authorities invoked martial law, which took effect when Russia invaded the country
- Individuals can only buy crypto worth up to 100,000 hryvnia ($3,400) per month
- Ukraine officially legalized crypto last month
Ukraine’s central bank has prohibited the purchase of cryptocurrency using hryvnia, the country’s national currency, CoinDesk reported. Authorities invoked martial law, which took effect when Russia invaded the country.
Limit of $3.4K imposed
Individuals can only buy crypto worth up to 100,000 hryvnia ($3,400) per month, the country’s central bank announced on Thursday.
The law classifies crypto purchases as “quasi cash transactions,” which also covers e-wallet replenishment, travelers’ check payments, or brokerage or forex account.
The bank took these measures “to prevent unproductive outflow of capital from the country under martial law.”
Ukraine legalizes crypto
Ukraine officially legalized crypto in the country last month. The National Commission on Securities and the Stock Market will determine and regulate the classification, legal status, and ownership of the virtual assets.
Since the beginning of the war, Ukraine has received at least $100 million in crypto donations.
