Overview

• NBU Governor Andriy Pyshnyy stressed that virtual assets must not threaten the hryvnia or undermine the central bank’s monetary instruments.
• Future legislation must embed FATF standards and EU MiCA requirements while granting regulators technical authority to enforce market conduct rules.
• After warning on August 4 that unlicensed crypto exchanges pose risks to banking and payment systems, the NBU has stepped up scrutiny of illicit operations.
• Verkhovna Rada leadership says the first reading of a crypto legalization draft will occur in August, with a refined, tax-and-AML-compliant law due by October 2025.
• Ukraine’s wartime experience receiving over $70 million in digital donations has accelerated efforts to formalize and de-shadow the crypto market.