Cryptocurrencies will become more popular in Ukraine due to the introduction of strict restrictions on fiat currency

New restrictions on fiat currency introduced by the National Bank of Ukraine (NBU) will help cryptocurrencies become more popular in Ukraine.

According to Mykhailo Chobanyan, founder of Ukraine’s first crypto exchange KUNA. io, Ukrainians will start actively using digital assets after the introduction of new strict rules and restrictions for the financial sector. To protect the Ukrainian economy, the NBU recently announced new limits on banking operations. From now on, the maximum weekly limit for withdrawals is UAH 12,500 (previously the limit was UAH 50,000). The maximum amount of transfers per month has been reduced to UAH 30,000 (previously transfers were available up to UAH 100,000).

The problem that Mykhailo Chobanyan drew attention to is donations to the Armed Forces of Ukraine, which are made by Ukrainians every day. Users will no longer be able to make a one-time large contribution in fiat currency. However, cryptocurrency donations remain available: in unlimited amounts and tokens. Users can make cryptocurrency donations on the United24 fundraising platform, which was recently launched by President of Ukraine Volodymyr Zelenskyy.