That's it, the race has already started between countries that want to adopt a state cryptocurrency. The National Bank of Ukraine (NBU) has officially announced that it is working on the issuance of a digital currency. At the same time, she also announced more flexible regulations on cryptocurrencies in the country.
Good news for the crypto industry like that announced recently by the Salvador.
Volodymir Zelensky, the president of Ukraine, signed a law on payment services, authorizing the country's central bank to issue what is called a CBDC which would therefore be the digital Hryvnia (Ukrainian currency).
For the start of the launch, this will be a test to properly measure payment services and instruments of this type. Startups and fintechs in particular have been invited to collaborate with the Ukrainian central bank.
This law will then stimulate the development of financial technologies in the country and even attract foreign companies.
Of course, the bank does not hide its fear of the potential risks of such an approach, and in particular on monetary stability and on the traditional banking system as a whole.
It is indeed a gamble to be taken and more and more countries are opting for a digital national currency, as if, deep down, it was inevitable...
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Disclaimer : This article is provided for informational purposes only. This is not financial, legal, tax or investment advice. Always do your own research before investing in any crypto.
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