Ukraine Central Bank gets approval to issue CBDC

The National Bank of Ukraine (NBU) has gotten the presidential approval to launch a Central Bank Digital Currency according to reports from tier-one cryptocurrency news sources.

This was confirmed after President Volodymyr Zelenskyy signed the “Payment Services” bill into law.

The bill will upgrade the current payment services market and usher in a much-needed transformation to the country’s financial sector.

The National Bank of Ukraine is expected to issue the CBDC and create a regulatory “sandbox” that will feature testing services, technologies, tools in the payment market.

Ukraine has adopted the European Union legal framework to support the smooth sail of the plan.

NEXT: Mastercard CEO Michael Miebach says the firm must enter Crypto Space

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