NBU Rejects Bill No. 10225-d Due to Risks for the Hryvnia

The National Bank of Ukraine has refused to support Bill No. 10225-d, citing risks to the hryvnia and the financial system. The regulator warns that the document could lead to uncontrolled circulation of foreign tokens and unequal conditions for market participants. The NBU supports the legalization of virtual assets but demands that new rules do not weaken control over financial flows. The main concerns relate to foreign tokens that could perform the functions of electronic money without proper oversight, complicating monetary policy and creating risks for financial stability. The NBU is also concerned that simplified rules for foreign assets may circumvent requirements for Ukrainian ones. Regarding operators of trading platforms, the NBU points to the lack of clear criteria for their admission, which could lead to market monopolization. The regulator calls for the document to be revised with the involvement of all participants in the legislative process. Currently, new rules for cryptocurrency taxation are being prepared in Ukraine, and the bill is set to come into effect on July 1, 2027.

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