Ukraine Central Bank Opposes Current Crypto Bill Draft

The National Bank of Ukraine (NBU) said it cannot support draft law No. 10225-d on virtual assets in its current form, arguing that the final version omits key safeguards discussed during negotiations. The central bank supports regulating crypto under MiCA principles and international standards, but says the bill must not undermine monetary sovereignty, price stability, financial stability or economic security. The NBU’s opposition targets the current draft rather than crypto regulation itself.

The NBU identified three main concerns: uncontrolled access for foreign tokens that may function like electronic money, regulatory gaps that could enable arbitrage, and authorization rules that may create monopoly and corruption risks. It wants authority to restrict risky foreign tokens and clearer rules for market access. The bank also argues that authorization of trading-platform operators needs transparent limits and anti-competitive safeguards, affecting how future crypto exchanges could enter the regulated market.

The central bank called on lawmakers to revise the bill with broader participation from stakeholders and restore safeguards agreed during earlier discussions. It said it remains ready to cooperate on a framework that supports innovation without weakening trust in the hryvnia or financial stability. The next step is parliamentary revision of the draft before the NBU could reconsider its position.

Source: National Bank of Ukraine.

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