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Ukraine's central bank considers introduction of e-hryvnia

12.01.2018 р., 12:30

The National Bank of Ukraine (NBU) continues a research project it started late in 2016 to study the possible introduction of an electronic hryvnia, or e-hryvnia, on the basis of blockchain technology, the bank's press service has said.

"The NBU wants to specify that this is the possible introduction of the e-hryvnia rather than an own cryptocurrency," the NBU said.The e-hryvnia may minimize transaction costs amid remittance on Ukraine's payment market and handle operations almost instantaneously.

Recall,the National Coordination Center for Cyber Security has instructed the relevant authorities to develop a mechanism to ensure access of law enforcement agencies to data of crypto currency exchanges, according to the official website of the National Security and Defense Council of Ukraine (NSDC).

This mechanism provides for the obligation to store information about all transactions during the period established by legislation for financial organizations and disclose information about the client on a motivated request."The development and implementation of all these measures will also include the development of international cooperation for the introduction of integrated regulation of crypto currency circulation and avoidance of criminalization of this segment," the report said.

Ukraine's central bank considers introduction of e-hryvnia

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