The National Bank of Ukraine Asserts ‘Crypto Isn’t Money,’ Plans to Regulate the Sector

The National Bank of Ukraine (NBU) has emphasized that cryptocurrencies are not considered money, aligning with the International Monetary Fund’s stance. The First Deputy Governor of the NBU, Kateryna Rozhkova, stated that the NBU intends to regulate the crypto sector using the EU’s Markets in Crypto-Assets (MiCA) legislation as a benchmark. However, she acknowledged that current priorities, including the ongoing war, place macro-financial stability above cryptocurrency regulation. Lawmakers are working on a draft crypto tax bill, and the NBU expressed its willingness to adopt EU-inspired regulations in the future.