Skip to comments.Ukraine’s central bank demands registration of Bitcoin businesses
Posted on 02/16/2014 5:27:13 PM PST by TWhiteBear
The National Bank of Ukraine (NBU) has decided that all businesses operating in the cryptocurrency ecosystem as payment systems or payment infrastructure services must register with the institution and follow the general law.
The payment systems and operators of infrastructure services for payment systems only have the right to conduct activities in Ukraine after registering with the National Bank of Ukraine, announced the authority. Central Bank of Ukraine
Central Bank of Ukraine
In a statement quoted by the Ukranian site AIN.ua, the central bank also states that no other banks or legal organizations should be approached by these businesses when it comes to their registration process. In other words, the only way to do it is through the NBU.
The central banks first public Bitcoin-related announcement adds that the institution did not address the banks or other entities regarding the registration of the payment systems.
Besides, the institution is also warning the Ukrainian Bitcoiners about the usual risks of dealing with cryptocurrency, such as the volatility and the safety concerns. The NBU recalls that, despite its role as a regulator, the institution is not responsible for any loss associated with cryptocurrency that the users or investors might suffer.
They are treating it like any other currency. Can’t ask for more than that.
A snowball's chance in H - E - double hockey sticks.
Ukraine has bigger problems than Bitcoin. Their economy is taking a beating. Their currency (Hrivna) is down to 8.6 to the Dollar