Amid War, Ukrainians Look to Cryptocurrency

The ongoing Russia-Ukraine battle has spurred a renewed curiosity in cryptocurrency after emergency martial legislation measures have been launched by Ukraine’s central financial institution this previous week, in accordance to CNBC.

Foreign forex money withdrawals are at present prohibited in Ukraine and the nation’s central financial institution has restricted withdrawals of native money to 100,000 Ukrainian hryvnia per day, or roughly $3,339, beneath martial legislation.

This has led some Ukrainians to more and more flip to cryptocurrency. “We don’t belief the federal government. We don’t belief the banking system. We don’t belief the native forex,” Michael Chobanian, the founding father of common Ukrainian crypto alternate Kuna, informed CoinDesk. “The majority of individuals don’t have anything else to select other than crypto.”

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