NBU (National Bank of Ukraine)
The National Bank of Ukraine (NBU) is the central bank of Ukraine. It was established in 1991 after the dissolution of the Soviet Union and is responsible for monetary policy and banking supervision in Ukraine. The NBU also issues currency, manages foreign reserves, monitors financial markets, and ensures financial stability.
The NBU plays a large role in the cryptocurrency market as it regulates all transactions involving digital assets such as Bitcoin. In 2019 it introduced a new regulation which requires all crypto exchanges to register with them before they can start operations within the country’s borders. This has allowed authorities to better monitor these activities and ensure that there is no money laundering or other illicit activities taking place on their platform.
Overall, NBU’s role in regulating cryptocurrencies gives investors more confidence when trading digital assets within Ukrainian borders because they know that there are rules being enforced by an official body like NBU which will protect them from any fraudulent activity or illegal practices occurring on the exchange platform.
