HomeBitcoinBitcoin: Ukraine legalizes Bitcoin and other crypto-currencies

Bitcoin: Ukraine legalizes Bitcoin and other crypto-currencies

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Ukraine is already in the top 5 countries in using crypto-currency. Today we took a step forward”: “Parliament passed a law on virtual assets! This will legalize crypto exchanges and cryptocurrencies, and Ukrainians could protect their assets from possible abuse or fraud.

The Ukrainian parliament has passed a law legalizing Bitcoin and other cryptocurrencies in the country to protect the country’s assets from potential abuse and fraud.

Ukrainian Deputy Prime Minister Mykhailo Fedorov confirmed the news in a tweet saying “Ukraine is already in top-5 countries on cryptocurrency usage. Today we made one more step forward: Parliament adopted the law on virtual assets! This will legalize crypto exchanges and cryptocurrencies, and Ukrainians could protect their assets from possible abuse or fraud.”

Individuals will be able to hold, trade, and exchange crypto-currencies via exchange platforms registered in Ukraine. Companies will be able to work officially with the condition of being duly declared to avoid money laundering and paying taxes.

However, unlike El Salvador, Bitcoin will not become an official currency alongside the hryvnia. It will not be used for everyday payments. Similarly, Ukraine will not encourage its use. Like other countries, such as Cuba, it is simply a legal framework.

 

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