Ukraine’s New Law Will Treat CBDC As Cash

Ukraine financial authorities passed a new law for CBDC. According to the new law both Cash & CBDC based currencies will be treated the same.

Verkhovna Rada, Ukraine’s parliament body, passed a new law on payment related services. According to this new law of Ukraine, any type of electronic payment will be considered into a payment standard system.

 Since the financial authorities didn’t launch CBDC( central bank digital Currencies). Financial authorities of Ukraine are eager to launch CBDC. 

But right now they are in the initial phase of their research about CBDC.

The new law is fully indicating that Ukraine’s officials are on the way to make their whole economic infrastructure digital.

If this law of Ukraine is passed then Ukraine will be one of the few countries which will adopt the Digital Currencies system through full CBDC adoption with much development rank.

The changes under the new law system of Ukraine’s officials “On Payment Services” law only briefly mentions CBDC.

CBDC will create his own path with high surge after launch of its first digital currency officially 

Because making rules and doing discussion will not help to grow the financial Infrastructure & system in any country.

This law refers to the numbers of payment services alongside providers.

In the new law bill, there is full discussion about the supporting system to help in the building of better financial infrastructure.

Since 2018, Ukraine is considered as CBDC because Ukraine’s financial authorities tested a prototype based on the Stellar Lumens blockchain.

And also many times, Ukraine’s financial authorities talked about CBDC. They explained their point of view and ideas related to this matter.

Here it should be noticed that Ukraine’s officials are now working on the Digital Currencies system with more activity. Which is clearly showing that how much they are eager and how much they are fast to adopt such kind of system which are based on blockchain technology.

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