Ukraine's central bank: CBDC could threaten traditional banking system

According to Cointelegraph, at a meeting on February 21, the National Bank of Ukraine (NBU) presented test results of its CBDC project electronic hryvnia (e-hryvnia) and noted that the bank is continuing to research and issue its own CBDC . However, the central bank is clearly still concerned about the impact of this currency on financial stability and the threat to the traditional banking system. In an official statement, the NBU said, "If most people switch to central bank digital currencies instead of cash and bank accounts, The banking system may no longer be the main financial intermediary. On the one hand, the country's inflation level will not be significantly affected because digital currencies will be issued by central banks and central banks will control the process. "