Ukraine Has Taken The First Step Towards Issuing A Digital Currency

Ukraine has taken the first step towards issuing a digital currency. The President of Ukraine signed the bill regarding the matter.

Ukrainian President Volodymyr Zelensky has signed a bill allowing the country's central bank to issue digital currencies. This bill regulates how payment services, especially digital services, will be provided in Ukraine. In the bill, it was noted that the National Bank of Ukraine could issue its own digital currency and create a test environment for fintech startups. In addition, with the law that came into force after signing, payment service providers other than banks will now be able to open payment accounts, issue payment cards and electronic money. The bill was adopted by the Verkhovna Rada, the national assembly of Ukraine, on June 30, 2021. The National Bank of Ukraine has been aiming to issue a digital currency since 2018. The country made the first experiments on the subject on the Stellar blockchain and published a report in 2019.