NBU Governor Reiterates Crypto Cannot Be Legal Tender, Calls for Law Revisions

Ukraine's central bank chief Andriy Pyshnyi has drawn clear regulatory boundaries for digital assets, stating cryptocurrencies cannot function as payment instruments. The declaration comes as lawmakers advance legislation to formalize the sector's legal framework.

The National Bank of Ukraine maintains its stance despite parliamentary progress on VIRTUAL asset regulation. A September 2025 draft law, supported by 246 deputies, currently undergoes review with IMF consultation. Pyshnyi emphasized collaborative refinement with international partners and market participants during EBA Global Outlook discussions.

Market observers note the tension between regulatory caution and Ukraine's growing crypto adoption. The proposed legislation aims to establish taxation protocols and service provider oversight, reflecting global trends in digital asset governance.