2025-08-19 11:14:27
The NBU has clarified the status of digital money. Top cryptocurrencies hit new highs but then fell. Monero experienced a 51% attack. Thailand wants to attract tourists back with cryptocurrency
The NBU has clarified whether it is possible to pay with cryptocurrency in Ukraine
Cryptocurrency will not become an official means of payment in Ukraine. This was announced by the head of the National Bank, Andriy Pyshnyi.
According to the official, the legalization of virtual assets should not undermine the NBU's authority and its ability to control the financial system. Pyshnyi noted that one of the main risks is the use of cryptocurrency to circumvent restrictions imposed during martial law. Moreover, the regulator fears the growth of the shadow sector.
At the same time, the head of the NBU believes that properly structured legalization could, on the contrary, bring part of the market out of the shadows and improve the reputation of the Ukrainian financial system in the eyes of Western partners.
It has also become known that the Verkhovna Rada does not plan to adopt bill No. 13356 on the creation of a national crypto reserve. This was announced by the head of the parliamentary committee on finance, taxes, and customs policy, Danylo Getmantsev. According to him, after discussions with the NBU leadership, it became clear that due to the high volatility of crypto assets, it is not advisable to support the initiative for now.
At the same time, the parliamentarian specified that on August 19, 2025, the Verkhovna Rada will hold the first reading of a bill on the taxation of digital assets. The document is fourth on the agenda.
The crypto market is swinging again: Bitcoin has broken its record and plummeted sharply
Last week was extremely volatile for cryptocurrencies. Bitcoin first rose above $124,000 and broke its ATH on August 14, 2025, but almost immediately went into a correction. This was due to higher-than-expected US inflation data. As of August 19, 2025, the first cryptocurrency is trading at around $114,800.
Ethereum repeated BTC's movement but held on stronger. On August 14, the coin peaked, falling just less than $100 short of its own record high of $4,880. The growth was supported by record inflows into spot Ethereum ETFs, which totaled $2.8 billion since the beginning of the month. However, the next day, the ETH rate also began to fall, and by August 19, its value had dropped to $4,227.
Among other assets, BNB stood out, updating its maximum at $867, and Solana rose above $205.
According to Bloomberg forecasts, further market movements may be influenced by economic news from China. Weak retail sales and investment figures in the country have reinforced expectations that the People's Bank of China will introduce stimulus measures as early as September. Analysts believe this could increase global liquidity and push altcoins to new highs.
Monero survived a 51% attack — Dogecoin is next
The Monero cryptocurrency was shaken by a 51% attack carried out by the Qubic mining pool. On August 12, 2025, the pool's share reached 52.36%, and according to some reports, even 53%.
Qubic clarified that the team did not plan to interfere with the network maliciously. The purpose of the attack was to test the stability of the blockchain and stimulate its security through the participation of miners. Qubic announced its plans in advance. Nevertheless, a successful attack theoretically allows blocks to be reorganized, transactions to be censored, and double-spending to occur.
The Monero price fell 8%, reflecting the market's reaction to the events. The Kraken exchange temporarily suspended XMR deposits, citing a "potential risk to the integrity of the network."
Qubic recently announced the next 51% attack — pool participants voted to select the Dogecoin network.
PayPal launches the Pay with Crypto service for businesses
PayPal has introduced a new tool for entrepreneurs — Pay with Crypto, which allows accepting cryptocurrency as a regular payment method. The service is currently only available to businesses in the US.
Entrepreneurs will be able to serve customers worldwide by accepting more than 100 digital assets, including Bitcoin, Ethereum, USDT, USDC, and the proprietary PYUSD.
The main advantage of the new solution is a fixed commission of 0.99% per transaction. For comparison, international transfers via traditional payment systems cost businesses an average of 5–10%, and Visa and Mastercard fees start at 1.75%.
The funds received are automatically converted into fiat money or PYUSD. Sellers do not take any risks due to volatility, as the exchange rate is fixed at the time of payment. Additionally, users can earn 4% per annum on their PYUSD balance if they leave the funds in their PayPal account.
As a reminder, PayPal foe business is not yet available in Ukraine. Only individuals can use its features for international transfers and payments for purchases and services abroad. You can top up PayPal with cash dollars in Ukraine conveniently and quickly with ObmenAT24.
Thailand launches a pilot program to convert cryptocurrencies for tourists
Thailand has launched the TouristDigiPay initiative, which will allow foreign tourists to exchange tokens and coins to Thai baht to pay for goods and services.
To participate, you need to register with a licensed crypto provider and pass KYC/AML verification. After that, visitors to the country will be able to convert digital assets into baht (the local currency) and pay for purchases using QR codes.
The Thai central bank has developed a "tourist wallet" specifically for the project, which will be available to visitors. Initially, the service will operate as a platform for exchanging cryptocurrencies for the national currency, but in the future, the authorities plan to integrate it with foreign bank cards.
To reduce the risk of money laundering, limits have been set: large retailers will be able to accept up to 500,000 baht ($15,405) per month, while small sellers will be limited to 50,000 baht ($1,540). The initiative is intended to support the recovery of the tourism industry, which welcomed over 28 million visitors a year before the COVID-19 pandemic.
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