NBU restricts crypto purchases to stem capital outflows

national-bank-of-ukraine

The Ukrainian central bank on April 20 issued new restrictions on crypto purchases in a bid to prevent capital outflows and relieve pressure on international reserves. 

The move comes amid net foreign currency transfers by Ukrainian banks of $1.7 billion in March, and $0.9 billion as of April 18, according to the National Bank of Ukraine. The central bank is concerned these are adding pressure to the FX market.

The NBU also believes that some international transfers via crypto markets are

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