The circulation of cryptocurrencies in Ukraine is UAH 1 billion per day, Maksym Demianiuk, the advisor to the Deputy Prime Minister of Ukraine and the Minister of Digital Transformation, said.
“If we are talking about the virtual asset market […], this is one of the most interesting and promising markets in the world […] If we are talking about where Ukraine is [unfortunately, this is unofficial information, it will appear only after regulation appears], then this is about UAH 1 billion per day,” he said during the Ukrainian Financial Forum.
According to him, cryptocurrencies are 50 times higher than deposits in Ukrainian hryvnia-denominated shares and securities excluding government domestic loan bonds.
“We cannot pretend that it does not exist [the cryptocurrency market in Ukraine], that is why in the last year and a half the Ministry of Digital Transformation has set itself the task of providing regulation of this market,” Demianiuk said, pointing out that the lack of legal regulation is the main problem in this issue.
Cash in circulation in Ukraine as of July 1, 2019 amounted to UAH 393.8 billion, which is UAH 6.4 billion, or 1.6%, less than at the beginning of the year (UAH 400.1 billion), the National Bank of Ukraine said on Facebook.
The report says banknotes in the amount of UAH 391.3 billion (2.8 billion pieces) and coins worth UAH 2.4 billion (13.2 billion pieces) are in circulation.
The largest number of banknotes in circulation are those of UAH 200 (23%) and coins of 10 kopecks (29%).
