The Ukrainian central bank supports the legalization of encryption but opposes its use as a means of payment

Andriy Pyshnyy, the Governor of the Ukrainian Central Bank, expressed support for the legalization of cryptocurrencies but opposed their use as a means of payment, stating that this move may affect the effectiveness of the central bank's monetary policy tools. In addition, the Ukrainian central bank is testing the architecture of a digital currency (CBDC) and preparing pilot projects, while closely monitoring the development of the digital euro and collaborating with central banks and financial institutions from multiple countries.