Ukraine has limited the withdrawal of funds from cryptocurrency exchange to cards
Ukrainian Binance users have faced the problem of withdrawing funds to Monobank cards, however, as DOU found out, this applies not only to one cryptocurrency exchange and one bank. Ukraine has indeed limited the ability to transfer cryptocurrency to cards.
Monobank explains this decision by National Bank of Ukraine Resolution No. 18 of April 20, 2022, according to which the bank suspends (returns) incoming and outgoing transfers in foreign currency if there is a suspicion that they are related to the prohibited in Ukraine activities.
“If the withdrawal will be carried out as a SWIFT/SEPA transfer from a brokerage or investment company (or if it will be as a purchase of quasi-cash), the transaction will be rejected,” explained Monobank representative.
The bank’s support also notes that the restrictions apply to SWIFT/SEPA transfers from brokers or other investment companies, and you can try to withdraw funds under the P2P scheme. After all, in this case, the restrictions do not apply.