The temporary suspension of Binance operations via hryvnia-denominated bank cards is linked to intensified efforts against illegal gambling. ForkLog UA told representatives of the bitcoin exchange.
“Ukrainian banks have stopped executing high-risk transactions, which include operations related to gambling, betting and cryptocurrencies,” Binance said.
The team noted that for fiat operations, card withdrawals had been the only direct method of topping up or withdrawing hryvnias, because banks cannot open accounts for crypto companies due to the absence of regulation. As a result, the exchange currently has no ability to use bank acquiring.
Binance stressed that it does not know the technical details of the suspension of transactions or the timelines for resuming cashless hryvnia operations directly for users of the crypto exchanges.
“We are working together to develop a solution that, on the one hand, meets the National Bank’s requirements, and on the other will be convenient for users,” Binance said.
Representatives said that customers can use the P2P platform for fiat transactions. The company noted a recent rise in the service’s user base.
Mikhail Chobanian acknowledged the link between the suspension of cashless hryvnia transactions and the fight against money laundering and tax evasion in the gambling sector. His version was confirmed by MP Alexey Zhmerenetsky.
In March 2022, PrivatBank temporarily barred its clients from funding hryvnias onto cryptocurrency exchanges. The restriction stems from the National Bank of Ukraine’s decision and remains in effect during martial law. заводить гривны на криптовалютные биржи.
Monobank also told ForkLog UA that cross-border transfers are restricted, but within Ukraine there should be no difficulties with hryvnia operations.
At the end of April, the NBU, aimed at reducing capital outflow, limited the purchase of cryptocurrencies up to 100,000 hryvnias per person per month.