12:38 GMT +322 July 2019
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    Bitcoin is a decentralized form of digital currency, created and held online all over the world. The cryptocurrency is used to buy things electronically.

    PayPal, Bitcoin Eye Ukraine’s Online Payment Space

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    Ukraine’s National Bank is working on a roadmap to remove obstacles for the largest electronic payment system PayPal and Bitcoin digital currency to come to the country.

    PayPal has notified customers in Crimea that it will stop providing services to residents of the peninsula
    © AP Photo / ERIC PIERMONT
    A working group of National Bank, professional organization and business company representatives has been set up to harmonize the Ukrainian legislation and regulations with the relevant regulations and directives in the EU.

    The head of the Ukrainian interbank association of EMA electronic payment systems, Alexander Karpov, hailed the National Bank’s effort to facilitate the international payment systems’ access to the Ukrainian market.

    The NB will ask PayPal to add the hryvniya to their currency list so that they could work with all of the country’s online shops.

    Meanwhile, Bitcoin pitched an offer to the Ukrainian National Bank to let them join the country’s system of electronic payments  alongside PayPal, Alexander Karpov said, adding that chances were high that both Bitcoin and PayPal would soon appear on the Ukrainian financial market.

    Related:

    Russian Media Watchdog Bans Bitcoin Websites
    PayPal Stops Servicing Crimean Clients
    Tags:
    web money, PayPal, bitcoin, Ukrainian National Bank, Ukraine
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