President Volodymyr Zelensky has signed a law that will allow the National Bank of Ukraine to issue its own digital currency. The new legislation, which aligns Ukrainian regulations with EU rules, will also stiffen authentication requirements for clients of payment service providers.
New Legislation Allows Ukrainian Central Bank to Issue Digital Currency
The President of Ukraine Volodymyr Zelensky has signed the law “On Payment Services” which was adopted by the Ukrainian parliament on June 30, the president’s administration announced this week. The legislation aims to “modernize and further develop” the payment services market and promote the introduction of innovations in the financial sector, a press release explains.
One of the provisions in the bill grants the National Bank of Ukraine (NBU) powers to issue its own central bank digital currency (CBDC). Authorities in Kyiv have been mulling over a project to create a digital…