The National Bank of Ukraine does not support the initiative to include cryptocurrencies in the state’s international reserves. This was stated by the first Deputy head of the NBU Serhiy Mykolaychuk in an interview with the agency “Interfax-Ukraine”.
“Consultations with the NBU on this bill was not held, and in our opinion such changes would be premature. We do not plan to include virtual assets in international reserves,” Nikolaychuk emphasized.
He explained the regulator’s position with three main arguments:
1) The high risk level of crypto-assets, which are unable to ensure the reliability of reserves.
2) Lack of a uniform legislative definition of cryptocurrencies, which makes their inclusion risky in terms of legal certainty.
3) Impact on Ukraine’s European integration, as the European Central Bank considers it unacceptable to include cryptoassets in the reserves of EU central banks.
