Ukraine’s largest savings bank halts Bitcoin buys with hryvnia: Report

While the Ukrainian authorities has moved to legalize Bitcoin (BTC) amid the ongoing attacks from the Russian military, immoderate of the largest section banks person reportedly banned their clients from buying BTC utilizing the nationalist currency.

PrivatBank, the largest commercialized slope successful Ukraine, has temporarily restricted its customers from purchasing Bitcoin with the nationalist currency, the hryvnia (UAH), manufacture work Forklog reported connected Thursday.

Citing a spokesperson from PrivatBank, the study notes that the latest PrivatBank’s restrictions autumn successful enactment with an bid from the National Bank of Ukraine. The restrictions volition reportedly use during the existent play of martial instrumentality successful the country.

The connection came soon aft Binance’s Ukrainian part reported connected PrivatBank’s cryptocurrency restrictions connected Wednesday.

"We would similar to pass you that PrivatBank volition not enactment operations with UAH connected each crypto exchanges with nary objection starting from March, 2022,” Binance Ukraine announced successful a station connected Facebook.

Binance besides advised its customers to usage its peer-to-peer (P2P) speech service, noting that different banks tin marque a akin determination astatine immoderate time.

According to the bank’s authoritative website, PrivatBank has taken aggregate steps to support fiscal stableness nether martial law, providing recognition holidays and expanding withdrawal limits. PrivatBank did not respond to Cointelegraph’s petition for comment.

The archetypal reports connected PrivatBank’s crypto-related restrictions surfaced successful precocious February, with immoderate users stating that banks were blocking idiosyncratic accounts associated with P2P crypto exchanges similar LocalBitcoins.

What are alternatives to nonstop wealth to Ukrainians utilizing crypto? Privatbank is failing us. https://t.co/jIOmG7ZhjT

— claberus Слава Україні! (@claberus) February 26, 2022

Related: Ukraine finds improbable state successful efforts to barroom Russian entree to crypto: The Central Bank of Russia

On Wednesday, Ukrainian president Volodymyr Zelenskyy signed a instrumentality to found a ineligible model for the state to run a regulated crypto market. The Ukrainian authorities was actively moving to follow regulations, with the Ukrainian parliament passing the legislation successful its 2nd speechmaking successful mid-February.