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Privatbank Ukraine’s Biggest Bank Suspends Money Transfers to Crypto Exchanges

Here we are going to share a piece of news with you, which has come on the web that, Money transfers to Crypto exchanges have been suspended by Ukraine’s largest bank. The largest bank of Ukraine in terms of assets, Privatbank, has prohibited its customers from transferring funds in Ukrainian hryvnia the national fiat currency, to exchanges investing cryptocurrencies. The ban has been introduced on March 16, this ban is temporary. This new is gaining huge attention of the learners. As we know who are investors or traders, want to be updated and have to be updated from the new changes of the crypto. So this new topic is also important for the learners. Here are several details that remain to tell you, which are important for the readers. You will find authentic details in this article. Let’s continue the article.

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According to the statement, the quote has been quoted by the crypto news outlet Forlog, the scale stems from a regulation published by the National Bank of Ukraine (NBU) on 24 Feb, the day when Russia released its military attack on the country. Though it does not clearly detain crypto-related transactions, the documents regulate the mission of the banking system under martial law and acquaint sticker regulations for bank operations. An example is, withdrawals of the cash were limited to 100,000 hryvnias (approx.$3,400) daily and the hryvnia’s exchange rate was fixed.

Banks are prohibited from carrying out cross-border transfers of currency from Ukraine and this is on behalf of clients, Privatbank said in its announcement, the announcement has been made by Privatbank The Transferring funds for use on cryptocurrency exchanges is no exception this information has been detained by the bank.

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Furthermore, the globe’s leading crypto exchange by investing volume has revealed the confirmation of the news of Privatbank’s decision, which is related to hryvnia deposits. The warning also has been given by the company to users that other banks may do the exact and recommend they turn to peer-to-peer trading. Crypto donations have been accepted by Ukraine to fund its defense efforts in the face of advancing Russian forces and addressing increasing basic needs. The ban comes regardless of president Volodymyr Zelenskyy’s singing this week’s new law of the country “On Virtual assets. We have shared all the important details in this article which we know about this topic. If we get anything about the news we will tell you first at the same site. Stay tuned for more updates.

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