National Bank of Ukraine Stresses Crypto “Not Money,” Plans for Regulation Aligned with EU Framework

In a recent announcement, the National Bank of Ukraine (NBU) has emphatically stated that cryptocurrencies are not to be considered as money. Additionally, the NBU has reasserted its commitment to regulating the rapidly evolving crypto sector, using EU law as a benchmark. This move highlights the NBU’s progressive approach toward cryptocurrencies and its determination to establish a robust regulatory framework that will protect investors and foster innovation.

Agreement with the International Monetary Fund (IMF)

The NBU’s stance on cryptocurrencies aligns with the perspective of the International Monetary Fund (IMF). In a show of solidarity, the NBU concurs with the IMF’s characterization of cryptoassets as “not money.” This shared view underscores the importance of adopting a cautious approach toward the ever-expanding crypto market.

NBU’s Commitment to Regulate the Crypto Sector

Kateryna Rozhkova, the First Deputy Governor of the NBU, emphasized the institution’s unwavering commitment to regulating the crypto sector during a recent TV interview with My-Ukraina. Asserting that cryptocurrencies are not money, Rozhkova highlighted the NBU’s plan to implement comprehensive regulatory measures.

Rozhkova further elaborated on the NBU’s regulatory plans, indicating that they intend to reference EU law for guidance. By leveraging the experience and expertise of the European Union, the NBU aims to create a regulatory framework that aligns with international best practices and navigates any potential challenges associated with the crypto sector.

Potential delay in regulatory measures

While the NBU is resolute in its intention to regulate the crypto sector, Rozhkova candidly admitted that the matter might take a back seat for the time being. Speculation arises as to the reasons behind this delay. Some experts believe that the NBU may be cautiously monitoring the global regulatory landscape to ensure a well-informed and comprehensive approach. Others suggest that the delayed timeframe could be attributed to the complex nature of developing a tailored regulatory framework that effectively addresses the unique attributes of cryptocurrencies.

Lawmakers’ perspectives

Lawmakers in Ukraine seem to have differing views on the regulation of the crypto sector. While the NBU prioritizes the implementation of crypto regulations, other lawmakers have distinct plans for the industry. The Verkhovna Rada’s Committee on Finance, Tax, and Customs Policy, for instance, has revealed that they are currently working on a draft crypto tax bill.

This divergence in perspectives might pose some challenges in achieving a harmonized and comprehensive regulatory framework. However, it is imperative for stakeholders to engage in fruitful discussions to reconcile their differing opinions and find common ground that can propel the industry forward.

The NBU’s firm stance on cryptocurrencies, not considering them as money, reflects its concerted efforts to establish a structured and regulated crypto sector. The alignment of the NBU’s perspective with that of the IMF further underscores the importance of prudently navigating the complexities of the crypto landscape.

Despite potential delays in regulatory measures, the NBU remains committed to creating a robust framework that balances innovation, investor protection, and systemic stability. By utilizing EU law as a reference, the NBU aims to draw upon international best practices to shape its regulatory framework.

In this era of digital transformation, it is crucial for Ukraine to establish a regulatory environment that fosters responsible growth and safeguards against potential risks. With stakeholders working together, Ukraine has the opportunity to become a leading jurisdiction that fosters innovation while ensuring the protection of investors and the stability of its financial system. By coupling the NBU’s proactive approach with constructive dialogue among lawmakers, Ukraine can pave the way for a thriving and sustainable crypto ecosystem.

Explore more

Is Embedded Finance the New Future of Brand-Integrated Banking?

Specialists like Adyen and Block provide the essential digital rails that allow non-bank brands to function as financial hubs for millions of global users every day. The classic architecture of personal finance is being completely dismantled as the barrier between commerce and banking dissolves into the background of the daily user experience. No longer confined to the sterile environments of

How Will Odoo 20 Transform Mexico’s Digital ERP Landscape?

The Mexican enterprise customer base for Odoo grew by 51 percent in 2024, signaling a massive shift toward consolidated business management software. This rapid expansion reflects a broader evolution in the local commercial environment, where organizations are increasingly abandoning the patchwork of disconnected applications that once defined their administrative workflows. By transitioning to a unified platform, these companies are effectively

Why Should You Replace Cloud Apps With Local Linux Tools?

Processing high-resolution images locally using a discrete GPU offers a more immediate and private result than waiting for remote machine-learning models to return processed data. This movement toward a local-first computing model represents a strategic reclamation of digital sovereignty, where the power of modern processors is finally being utilized to serve the individual rather than the data-harvesting algorithms of large

South African Payment Managers Take on Strategic Roles

The South African financial landscape has undergone a radical transformation where the role of the payment manager is no longer confined to the basement of operations. The historical focus on handling service escalations has been replaced by a need for technical fluency and deep understanding of the payment lifecycle. As 2026 progresses, these professionals are finding themselves at the center

How Poor Onboarding Processes Stifle Employee Potential

When companies prioritize excessive documentation over human connection and mentorship, they inadvertently create a culture of confusion and long-term inefficiency. This initial phase of employment is theoretically designed to integrate a professional into a new environment, but it frequently dissolves into a frantic scramble through digital portals and legal fine print. Instead of engaging with the nuances of their new