Bitcoin exchanges suspend hryvnia deposits and withdrawals for Ukrainian users

Cryptocurrency exchanges reported a temporary suspension of operations via hryvnia-denominated bank cards. The problem, in particular, подтвердили in Binance.

“Fiat channels, namely deposits and withdrawals via bank cards and other payment services, are temporarily suspended among cryptocurrency exchanges across Ukraine,” the exchange said.

In a ForkLog UA comment, Binance representatives noted that this occurred against the backdrop of restrictions by the National Bank of Ukraine. The exchange recommended that users conduct operations via the P2P service.

The founder of the Ukrainian cryptocurrency exchange Kuna, Mikhail Chobanian, also acknowledged the problems.

“Regarding the hryvnia-card and deposits/withdrawals on exchanges. Yes, it does not work for everyone. In short — we are looking for ways out of the situation, under the threat of stopping the entire Ukrainian crypto market with cashless hryvnia,” he wrote in his Telegram channel.

As of writing, the National Bank of Ukraine had not provided a comment on the situation.

Back in March 2022, PrivatBank temporarily barred its clients from depositing hryvnias on cryptocurrency exchanges. The restriction is tied to the NBU’s decision and remains in force during martial law.

At the same time, Monobank told ForkLog UA that cross-border transfers are restricted, but for hryvnia operations within Ukraine “there should be no difficulties.”

At the end of April, the NBU, in order to reduce capital outflows from the country, restricted cryptocurrency purchase transactions to 100,000 hryvnias per person per month.