Ukrainian President Volodymyr Zelenskyy legalizes Bitcoin & crypto in the country.
Ukrainian President Volodymyr Zelenskyy has signed a bill, making it into law on virtual assets, and legalized Bitcoin and crypto.
Ukraine Ministry of Digital Transformation of Ukraine Writes (Translation):
“Ukraine has legalized the cryptosector -Now foreign and Ukrainian cryptocurrencies will operate legally in Ukraine and banks will open accounts for crypto companies. This is another important step towards the development of the virtual assets market in Ukraine.”
Україна легалізувала криптосектор — @ZelenskyyUa профільний Закон.
Тепер в Україні легально працюватимуть іноземні та українські криптобіржі а банки відкриватимуть рахунки для криптокомпаній. Це ще один важливий крок до розвитку ринку віртуальних активів в Україні. pic.twitter.com/0G5BedCrWf— Міністерство цифрової трансформації України (@mintsyfra) March 16, 2022
The step is taken after strong support to Ukraine in digital currency donations against a Russian invasion.
Ukraine’s National Commission on Securities and the Stock Market will regulate the crypto market. Ministry of Digital Transformation will determine the legal status, classification, ownership, and virtual asset regulators and set registration requirements for crypto services providers. The digital ministry said exchanges would operate legally, and banks will open accounts for them.
The state body is tasked with “shaping and pursuing a policy in the field of virtual assets; determining the order of circulation of virtual assets; issuing permits to virtual asset service providers; and carrying out supervision and financial monitoring in this area.”
Ukraine has received $100M in crypto donations during its war with Russia so far.