Zelensky signs law enabling the central bank to issue a digital currency

President of Ukraine Volodymyr Zelensky подписал the law ‘On Payment Services’, allowing the National Bank to issue its own digital currency.

The Ukrainian central bank has also been granted the right to launch a regulatory sandbox to test services and tools based on ‘innovative technologies’.

In addition, the law expands the requirements on payment service providers, which must use strong authentication of users in certain cases.

The document also distinguishes between central bank digital currencies and electronic money.

The Verkhovna Rada passed the law on June 30.

Earlier in July, Ukraine unveiled the three-year strategy for developing the virtual assets market.

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