Ukraine temporarily suspended the use of its national currency, the hryvnia, through bank cards for fiat deposits and withdrawals on cryptocurrency exchanges. While the move immediately affected how investors move funds to and from exchanges, Binance reminded users how peer-to-peer (P2P) services come in handy when trading cryptocurrencies.
Following the temporary suspension of the Ukrainian central bank, cryptocurrency exchanges such as Binance and Kuna made official announcements informing investors of the drawbacks. Michael Chobanian, the founder of local crypto exchange Kuna, acknowledged the service outage. However the saying he would explain the nuances of development later.
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