The Ministry of Defense of Ukraine is unable to accept crypto donations

The Ministry of Defense of Ukraine has opened up a bank account for overseas donations, but Bitcoin is not legal tender.

Russia-Ukraine Tension | Image: Sky News

Many people have indicated an interest in giving to Ukraine's defense operations as a result of Russia's intrusions into the country. The Ministry of Defense, on the other hand, is constitutionally prohibited from receiving cryptocurrency.

Donations in Cryptocurrency in Times of War

It appears that more people are becoming aware of the potential for digital assets to be used for donations in support of various causes or military engagements.

While Ukraine is undergoing a foreign invasion by Russian armed forces, the Ukrainian Ministry of Defense has received an avalanche of enquiries from international donors.

However, Ukraine's Ministry of Defense is unable to accept other payment systems such as Bitcoin or PayPal due to "national legislation."

Having said that, the Ministry of Defense did open a bank account for foreign currency donations "in response to numerous requests from individuals and legal entities who are not residents of Ukraine."

According to the Ministry of Defense, the gifts provide logistical and medical support to Ukraine's Armed Forces.

Following a large number of requests from persons who wanted to donate, a bank account that would allow foreign donations was set up.

Those who want to directly support military units and institutions involved in the fight with Russia can contact the commanders or chiefs of those organizations.

On news of Russia's military offensives in Ukraine, the crypto market plummeted, and it has been quivering for several weeks over worries of exactly what happened today.

Crypto donations to Ukrainian non-governmental organizations and volunteer groups have skyrocketed in the last year, owing to rising concerns about armed conflict with Russia.