I don’t yet know how legally binding this is. It may only be the opinion of Ukraine’s central bank, but nevertheless, it’s bad. It represents exactly the type of corrupt Soviet bureaucratic thinking that Ukrainians rebelled against last winter. Worse, this statement is aimed at the tech industry — the one place talented Ukrainians consistently find refuge from corporate raiders and rent seeking bureaucrats. It’s a very, very discouraging blow at a time when so many Ukrainians have sacrificed so much in a fight that was largely about greater economic freedom. I expect a reaction from the recently formed Bitcoin Foundation of Ukraine.