National bank of Ukraine to switch from WebMoney to Forex

The National Bank of Ukraine has set up a working group to develop regulatory measures on legalization of the Ukrainian market Forex.

This was stated by the first deputy head of the National Bank, Borys Prykhodko, the Ukrainian media reported Friday.

"There are tens of millions of dollars exported by not quite official patterns through brokers and working for other countries' economies... We are actively working on it, and by the end of the year you will see active performance of the National Bank in this direction," he noted.

According to him, the National Bank is planning to bring the market out of the shadows by the end of the year.

As reported, the revenues ministry revealed irregularities in the work of the company, which is the guarantor of the WebMoneyTransfer payment system activity in Ukraine, and blocked more than 60 million UAH on the accounts of companies allegedly involved in the illegal pattern. The National Bank of Ukraine said that it did not give permits for WebMoney Transfer activities or the issue of electronic money.

Adapted from Ukrinform