Ukraine's regulators uncertain on cryptocurrency status, warning of risks

"The National Bank of Ukraine, the National Securities and Stock Market Commission, and the State Commission for Regulation of Financial Services Markets are convinced that the complicated legal nature of  cryptocurrency does not allow to recognize it either money, currency or another country's means of payment, currency valuable, electronic money, securities, or money surrogate," Churii told a briefing on November 30.

Read alsoRussia blocks cryptocurrency-related websitesAccording to the NBU executive, an ad hoc group has been set up to date, which includes the representatives of said regulators, as well as the Finance Ministry and the Financial Monitoring Service of Ukraine, to determine the legal status of the cryptocurrency in Ukraine.

At the same time, the official warned that any transactions with cryptocurrencies, including their purchase, sale, exchange and conversion, involve a large number of risks for individuals and legal entities.