Freedom and democracy? Not when when the IMF and EU has lent you money.
With the UAH hitting new record lows, Ukraine’s Central Bank has decided to ban Bitcoin in order to “to protect citizens” from financing terrorism…kind of like bombing your own citizens in an ATO – “Anti-Terrorist Operation.” Must blame Putin!
Project UKRInform reports…
The virtual currency Bitcoin can not be used in Ukraine as a means of payment.
Reported official representative of the National Bank of Ukraine (NBU) on Facebook.
According to the regulator which has to ensure real value, virtual currencies are “money substitutes.”
Also, the National Bank of Ukraine stressed that the international spread payments usingBitcoin has made ??this category of services attractive to illegal activities, including money laundering of crime or financing terrorism.
“In order to protect consumers’ rights and security of the money transfer National Bank recommends that you use the services of only those payment systems, settlement systems, which are included in the register of payment systems, settlement systems, participants in these systems and service providers payment infrastructure” – the representatives of the regulator.
The Hryvnia has collapsed to new record lows near 15/USD this morning. The Central Bank and bankers “agreed to keep UAH at 15-16/USD” but are “not planning on new FX market restrictions.” However, there is one terrifying ‘currency’ that needs to be curtailed… Bitcoin. As The National Bank of Ukraine explains, “In order to protect consumers’ rights,” the virtual currency Bitcoin cannot be used in Ukraine as a means of payment.
Because there’s nothing worse than your citizens having free reign to transfer the collapsing value of their Hyrvnia into a non-Hyrvnia alternative… especially when The IMF has leanty you money.
Welcome to the world of austerity, courtesy of the IMF and EU.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.