Resolution No. 178 on Electronic Money

Ukraine

(enacted in 2008)

The Resolution No. 178 of 2008 on Electronic Money regulates activities related to electronic money in Ukraine.

Emission of electronic money is defined as the service of provision to natural and legal persons of electronic money by means of exchange of cash and cashless funds for electronic money, related to obligations concerning paying off electronic money at request. 

This regulation provides for:

  • The emission, circulation and paying of electronic money, as well as to systems of electronic money in Ukraine;
  • Requirements concerning emission of electronic money;
  • Requirements concerning distribution, use, acceptance, and exchange transactions with electronic money;
  • Requirements for paying off electronic money; and
  • Procedure of coordination of electronic money systems rules.