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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.
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.
Anna Baydakova
Anna writes about blockchain projects and regulation with a special focus on Eastern Europe and Russia. She is especially excited about stories on privacy, cybercrime, sanctions policies and censorship resistance of decentralized technologies. She graduated from the Saint Petersburg State University and the Higher School of Economics in Russia and got her Master's degree at Columbia Journalism School in New York City. She joined CoinDesk after years of writing for various Russian media, including the leading political outlet Novaya Gazeta. Anna owns BTC and an NFT of sentimental value.
