The President of Ukraine signed a law that allows the regulator to start work on the implementation of the regulatorysandboxes and test tools based on innovative technologies.
President of Ukraine Volodymyr Zelenskyy signedthe law "On payment services", which will allow the National Bank of the country to issue its own national digital currency (CBDC). The law also allows the regulator to launch a regulatory sandbox, within which tools and services based on innovative technologies will be tested.
The bill was adopted by the Verkhovna Rada on June 30 this year. Among other things, the document distinguishes between the concepts of "national digital currencies" and "electronic money".
In addition, the law creates conditions for implementation inUkraine, the concept of open banking (Open banking), which should unite various payment service providers and technological platforms into a single payment ecosystem. It is planned that Open banking will start operating in Ukraine in 2023.
Last year, the Ukrainian parliament passed the Law on Virtual Assets. The document regulates operations with cryptocurrency on the territory of the country, classifying them as intangible goods.
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