The Governor of the National Bank of Ukraine (NBU), Andriy Pyshnyy, has stated that while the legalization of cryptocurrencies is on the table, they will not be permitted to function as a means of payment. In an interview with RBC-Ukraine, Pyshnyy called using crypto as a legal tender a “red line” for the central bank.
Pyshnyy emphasized that any new legislation must not weaken the NBU’s monetary authority or its ability to enforce financial monitoring. He also warned that during the current period of martial law, crypto assets should not be used to bypass currency restrictions. The governor noted that “de-shadowing” virtual assets would improve the reputation of Ukraine’s financial sector on the international stage.
In a separate development, Pyshnyy announced that the NBU is preparing for a pilot project for the country’s central bank digital currency (CBDC), the e-hryvnia. While no timeline has been set for a full-scale launch, the NBU is collaborating with several European central banks and the Bank of Singapore on the project.
August 2025, Cryptoniteuae
