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This area is attractive for illegal activities, including laundering money obtained by criminal means or for financing terrorism. On the territory of Ukraine, the only legal monetary unit is the hryvnia, the issuance and circulation of other monetary units as a means of payment, as well as the use of monetary surrogates, is prohibited. [6]
Kuna (Ukrainian: Куна) is the first Ukrainian and CIS cryptocurrency exchange. [1] [2] [3] Amidst 2022 Russian invasion of Ukraine, Kuna became the biggest fundraising platform in Ukraine, having managed to accumulate over $100 million.
Also common is the 200 and 500 hryvnia, as most Ukrainian ATMs dispense currency in these denominations. In 2016, the NBU paper factory started producing banknote paper using flax instead of cotton. [22] In 2019, the National Bank of Ukraine introduced a 1,000 hryvnia banknote and was issued into circulation on 25 October 2019. [23]
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The legal status of cryptocurrencies varies substantially from one jurisdiction to another, and is still undefined or changing in many of them. [1] Whereas, in the majority of countries the usage of cryptocurrency isn't in itself illegal, its status and usability as a means of payment (or a commodity) varies, with differing regulatory implications.
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