Bitcoin, Yes for the Ukrainian State, No for its People

Can a government accept donations in Bitcoin and at the same time prohibit or limit the purchase of BTC? Absurd, isn’t it? Well, not for the government of Ukraine.

When Bitcoin finances war/peace

Following the conflict with Russia, Ukraine called for donations in Bitcoin and Ethereum on February 28. A collection of more than $ 75 million, whose exact amount remains unknown.

The defenders of freedom and peace can rest assured that $15 million was spent on the purchase of weapons and bulletproof vests to protect soldiers at the front.

While some may wince and say, “Bitcoin is funding the war,” they will at least have the satisfaction of knowing that one more country is using it. One more country is increasing the freedoms of its people. No ? What do you mean “no”?!

You can’t have your cake and eat it too

On April 21, the National Bank of Ukraine (NBU) announced that it was now forbidden to buy Bitcoin with Hryvnia (UAH), the currency of Ukraine. Of course, democracy prevails, so it is still possible to buy cryptos with other currencies like $, as long as you buy them for less than $3400 per month…

This measure is intended to protect the country’s economy as stated by the NBU in its announcement:

“The National Bank of Ukraine believes that these changes will improve conditions in the foreign exchange market, which is a prerequisite for easing restrictions and reducing pressure on Ukraine’s international reserves,” it said in a statement.

The National Bank of Ukraine

A measure therefore intended to protect the country’s economy, but which goes against the crypto adoption. An adoption that the cryptosphere thought would be final after the adoption of a text on February 18 legalizing cryptocurrencies in the country.

So the Ukrainian government does not care to be at a paradox. Legalizing cryptocurrencies, encouraging donations by promising an airdrop to donors, while limiting their libertarian nature under the guise of protecting the country. One more paradox in a world definitely more and more complicated …