Accounts of citizens actively buying cryptocurrencies have been blocked in Ukraine

The state-owned PrivatBank blocks and forcibly closes accounts of its clients suspected of buying or selling cryptocurrencies. This became known from complaints left by Ukrainians, according to the financial institution’s customer support service.

It is noted that until recently, no such actions have been taken by the bank. So far, there has been no response from PrivatBank management to the users' complaints.

As a reminder, since March 16, 2022, PrivatBank has temporarily banned its Ukrainian clients from depositing hryvnia on cryptocurrency exchanges. This restriction is also related to the NBU’s decision and is valid for the entire period of martial law. At the same time, another Ukrainian bank, Monobank, reported that their cross-border payment service was facing problems. However, no difficulties were observed with hryvnia transactions within Ukraine.

Last year, at the end of April, the National Bank of Ukraine (NBU) restricted cryptocurrency purchases to UAH 100,000 per person per month. The goal is to reduce the outflow of capital from Ukraine.