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First crypto ATMs installed in Ukraine, authorities take a non-discriminative approach

04 September 2017 21:00, UTC

Ukraine becomes one of the latest countries to install cryptocurrency ATMs. An entrepreneur who bought the first 6 terminals has already installed them in Kyiv, additional two will start working in Kharkiv next week.

In Kyiv, the ATMs were installed near “Klovskaya” and “Palats Ukraina” metro stations, in Solomenka, Troeshina and Obolon, KUNA Bitcoin Agency tells on Facebook. The agency states that is has already received more than 150 requests for ATMs from different regions of Ukraine.

To buy cryptocurrency, one must scan the wallet address from the smartphone app and deposit cash (min. 500 UAH). Bitcoins will appear on the wallet.

Initially, the Ukrainian government did not trust cryptocurrency enthusiasts, but lately the state central bank told that they will not consider Bitcoin a full-fledged currency, will not ban mining and will not equate cryptocurrencies to fraud instruments. The Ukrainian financial regulator, in tone similar to the latest Russian Central Bank statement, stressed that there is no good consumer protection on this market and so every cryptocurrency enthusiast must be very careful when deciding to invest or trade with big sums.