On 12 November 2020, Ukrainian Parliament registered a draft payment services law (available here in Ukrainian). This milestone work was coordinated by the Ukrainian central bank (“NBU”) with the aim to fully replace the existing regulatory framework for the payments business in Ukraine.
Ukrainian policymakers consistently work on improvements to the legal framework, applicable to engagement of technology providers by incumbent financial institutions.
According to Maksym: financial regulators who engage with technology now stand to reap the most benefits.
Regulatory conditions are driving more fintech and BPO activities to Ukraine