First Ukrainian Cryptocurrency

Will Ukraine create their own cryptocurrency?

Well, Following an NSDC (National Coordinating Council for Cybersecurity) meeting discussing the importance of developing cryptocurrencies, the Ukrainian government ordered the assembly of a national team joining forces to create a Ukrainian crypto.

While all of The National Police, The National Bank of Ukraine (NBU) and the Security Service of Ukraine agreed on the dangers of creating a cryptocurrency looking at the lack of control due to decentralization and the added factor of anonymity, Ukraine still plans to create their own crypto.

Official Statement of Government Stated,

Moreover, the authorities were assigned to develop a mechanism for ensuring access of law enforcement bodies to the data of cryptocurrency exchanges with the obligation of the given subjects to store information about all transactions within the period established by law for financial institutions and disclosure of customer information on a motivated request.  

The NBU plans to roll out a cryptocurrency, having formerly proposed a blockchain project promising a cashless economy. This year seems to be a very promising year for crypto-traders indeed!

This is a big step forward from the government of Ukraine, moving to a centralized cryptocurrency, all the banks are looking for some alternatives to reduce the transaction time and cost nowadays

Written by Ismail Yassin

Co-founder of Crypto News and future Crypto-Millionaire with the intention of bringing all the beginner traders, just like him not too long ago, along on the ride. Hop on the crypto-bandwagon and H.O.D.L!

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