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Author Topic: Banks in Ukraine Restrict Clients from Buying Bitcoin using Ukrainian hryvnia  (Read 275 times)
evilgreed
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March 20, 2022, 11:40:53 AM
 #21

               The main reason for this happening should be the hastened decisions of Ukraine in legalizing bitcoin. They should have been more thorough about this. Honestly, despite being a super pro Bitcoin/crypto currency as I am, I was quite shocked with their decision and wasn't fully excited about it since with all the issues they are currently facing, it would be easy to deduct that their decision on legalizing bitcoin wasn't thought of well. And we all know what happens with such half-assed decisions. It may have been a positive news for bitcoin at first but after this, fud will surely spread and even more so if it comes to a point when they have to revoke their decision in legalizing bitcoin which I hope never happens.

* Of course as a country they would have to protect their own currency. The inly thing we should anticipate now is up to which extent are they willing to gi to protect it because obviously there are tons of ways to go around the restriction being mentioned by op. *


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coolcoinz
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March 20, 2022, 08:31:51 PM
 #22

It just shows you that the Banks care more about the hryvnia's stability than preserving the value of the wealth of the people. They do not even care that millions of Dollars are being donated via Crypto currencies and eventually converted into their local currency.  Roll Eyes

The impact of the war on their economy are much more damaging to the stability of their economy and the stability of their Fiat currency, so they should rather focus on getting a solution for that.  Wink

I don't think they can save the value of a currency by banning the ability to use it as the people want. When you start to do it, people become anxious, they start thinking that now they can't buy foreign currencies or bitcoins and next month there will be something else like a ban for sending money abroad or another seizure like they did in Russia where you get up to 10k EUR of your deposit and the rest is frozen (basically stolen). You start messing around with people's property, it always ends bad for you as the lawmaker.

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March 21, 2022, 02:47:15 AM
 #23

What the government is trying to do here :
They are trying to make sure that the uah , ukranian currency does not fall down too much during the war which can cause a lot of troubles therefore it's limiting people to buy Bitcoins and use that to buy something else in some other country or to hold that as an asset. They are trying to have as much money as they can in banks since the Russian government have taken things for worse therefore they are taking away the financial freedom of people and at the same time timely distributing the money that they have been receiving from other countries to people living there so that they are barely able to sustain themselves and their families which is basically based on the number of kids in the family etc.
It's inevitable, there are many countries who did that before as well therefore people needed to be much faster than this, now you cannot even convert uah to usd in bank application, to protect the volatility of the national currency.

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Naficopa
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March 21, 2022, 11:13:50 PM
 #24

It just shows you that the Banks care more about the hryvnia's stability than preserving the value of the wealth of the people. They do not even care that millions of Dollars are being donated via Crypto currencies and eventually converted into their local currency.  Roll Eyes

The impact of the war on their economy are much more damaging to the stability of their economy and the stability of their Fiat currency, so they should rather focus on getting a solution for that.  Wink

Till last week Ukraine Minister of digital affair did mention in his address that they have received funds of approx. $50 million from the supporting counties. And they were hoping that it would reach $100 million till month end. But this is a different news altogether crypto is very unpredictable world. I will keep coming to the forum to know what is going on in Ukraine and Russian regarding crypto.

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April 16, 2022, 05:53:21 PM
 #25

Erm... most of these people define freedom as having their running water, food supplies, and electricity without Russian soldiers squatting on their land, not as having the ability to use crypto!
Actually most people don't understand the concept of freedom. For them they are free as long as they are told they are free even if they are in chains! The reason why they are feeling trapped today is because there is obvious hostility involved whereas for the past decade Ukraine was occupied without them knowing it. Otherwise why were they ignoring the fact that US had bioterrorism bases in their country? And that's just the tip of the iceberg.
You are apparently a resident of Russia and you are quoting years of Russian propaganda that Ukraine is influenced by Europe and the United States and poses a threat to the security of Russia's existence. Ukraine has always been and is a peaceful state and has not threatened or attacked anyone. Unlike Russia, which constantly attacks its neighbors and not only its neighbors.

The only occupier Ukrainians face is Russia. Now in Russia they already want to destroy Ukraine as a state and Ukrainians as a nation. Therefore, the economy of Ukraine is being deliberately and systematically destroyed by tanks, artillery and aircraft, and civilians are being killed. Russia first announced that they invaded Ukraine to protect the Russian-speaking population of Ukraine, who were allegedly oppressed here. But it is the Russian-speaking population of Ukraine that most of all perishes from this aggression, since they live more in the east, where fierce battles take place and where Russian soldiers almost completely destroy settlements. The Russian-speaking population is shot if they recognize themselves as Ukrainians. This is such a "liberation" that Russian soldiers bring with them to Ukraine.

But nothing will come of the invaders. Russia suffers a shameful military defeat in Ukraine and most likely the Russian Federation itself will fall apart as a result of this war.

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