Ukraine Hardens Stance on Bitcoin as Russia Lowers Proposed Penalties for Crypto Users

By November 11, 2014Bitcoin Entertainment

SHA256 ALGORITHM HASHRATE: 265.7 Ph/s The virtual currency Bitcoin cannot be used in Ukraine as a means of payment.

The above was announced in a post on the official website of the National Bank of Ukraine (NBU). According to the regulator, Bitcoin and other cryptocurrencies represent "money substitutes.” Bitcoin: not in Ukraine?

It should be clarified, however, that the announcement does not officially ban Bitcoin as no actual law was passed to date. The NBU […]

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