March 23, 2023

including deposits and withdrawals in Ukrainian hryvnia, are temporarily unavailable due to restrictions imposed by the National Bank of Ukraine,” Binance said in a statement. “We apologize for any inconvenience caused and will notify users once the situation has been resolved.”

Kuna, which is based in Kyiv, also confirmed that it had suspended operations with hryvnia bank cards. The exchange said it was working to find alternative solutions for its users.

The NBU has not yet commented on the situation. However, the central bank has previously expressed concerns about the use of cryptocurrencies in Ukraine, citing risks to financial stability and the potential for money laundering and other illegal activities.

Cryptocurrency trading has become increasingly popular in Ukraine in recent years, with many Ukrainians turning to digital assets as a way to protect their savings from inflation and currency devaluation. However, the regulatory environment for cryptocurrencies in the country remains uncertain, with lawmakers and regulators still grappling with how to address the emerging technology.

The suspension of operations with hryvnia bank cards is likely to be a setback for Ukrainian crypto traders, who may now have to find alternative ways to deposit and withdraw funds from their accounts. However, it is unclear how long the restrictions will remain in place, and whether other exchanges operating in Ukraine will also be affected.

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