Ukraine’s local currency, the hryvnia, has been greatly affected by the ongoing conflict in the country.
The statement said that “quasi cash” assets could only be purchased using foreign currencies.
Despite the ban, the National Bank of Ukraine noted that global payment systems were needed by foreign Ukrainians using their local currency in other countries.
Since the Russian invasion, Ukraine has become more open to cryptocurrencies.
Fedorov also provided the official wallet addresses for different cryptocurrencies, including Bitcoin, Ethereum, Dogecoin and Polygon.
During the onset of the conflict, an Ethereum mining farm vowed to stop Russian operations in solidarity with Ukraine.