Topic: Ukraine to Legalize Crypto Mining as Economic Activity - page 2. (Read 493 times)

     I think that this is such a good news even with the question if whether this can still be really profitable for anyone who tries mining. But even so, I think all will depend on the price of all the resources needed for mining and for the country itself or in the type of coin you are going to mine. Because if you have high electricity costs and other problems with financing, even early coins wouldn't give you that much profit. But if you have low resources costs, then even mining bitcoins can still prove to be very profitable.

Wow, it is cool! It is a big step for this country. I am glad to see government that realize importance of cryptocurrency.
And it is funny to see absolutely different steps related to crypto in the world. Kiev’s government that legalize mining and Google that banned advertising of any ICO are right opposite!

Attention, guys!
I am from Ukraine and already heard this news. Of course mining today is a good and profitable thing, especially if you are mining altcoins. And sure thing, regulation of this sphere in my country is a good sign because it is already in the top list of countries, where the majority of the population is involved in crypto trading and mining. Our politicians use crypto trading and mining as a tool to hide their hidden revenues, but I am sure politicians and "whales" in other countries do the same.
But the thing is that legalization of mining in Ukraine is not only a good thing, there are two sides of the medal. Our government doesn't do anything for people if it doesn't bring them something in return. I am a lawyer myself and must warn everybody, that if somebody says there won't be taxation of any kind, they are completely wrong. If mining is going to be legalized and added to the list of legal economic activities, there will definitely be imposed taxations or any other fees. Every single economic activity, according to Ukrainian law, must be taxed and bring revenues to the state treasury. And knowing habits of our government, the fees can be quite high.
Legalization means adoption of the regulation of this economic activity, regulation means the possibility to protect your rights in court and be responsible for the infringement of rights and obligations, and once a government guarantees you the right to carry out this activity and be protected by the law, it imposes its rules, taxes and other fees for such guarantees.

That is why we should not build any illusions and rejoice at this event. We just have to carefully wait for further news and follow how things will go and what terms the government is going to adopt.

Electricity costs in our country truly are cheaper than in other countries, especially for wealthy people and foreigners, but for the local citizens with our small salaries, they are not that cheap at all. And certainly, we must not forget that legalization of mining very likely to increase these costs significantly or maybe for those who mine. But I am sure that costs won't remain at the same level.

Many more country will recognize bitcoin and will be declare legal. Though my countries doesn't recognizing it yet as legal, its not yet considered legal in the country. Its now being regulated by the government and now getting started to be acknowledge as something legal means of buying goods and services. There might be countries who will be recognizing it as legal but there will also be countries who will ban and be not allowed to used in their country.

I don't really think that mining is profitable. But it doesn't mean that regulation of mining is bad and unnecessary. It's a very good sign. Ukraine has potential to become the crypto capital of the world 

Think we'll see some great things from there in terms of crypto then.

Always loved Ukraine and hope to see great things come out from this.

First time I hear that

Ukraine has electricity generated by Atomic stations, which are cheapest electricity source..
Besides, population 50 million..
Pretty decent combination of wise decision and populations current condition.
Long Live Ukraine..

So it is relatively cheaper then, I imagine it might work out in the Ukraine because of that

I don´t think that is really news, cryptomining is not illegal, you don´t break any law anywhere mining except perhaps in China and probably not even there. The are just going to regulate and get taxes.

This is a good news for the crypto game, because we need some in these difficult days.

It is good news for the crypto community, i think more and more countries will start regulating and legalizing not only the mining but all other aspects of crypto business and i also hope that the taxes implemented will be negligibly small.

I can not yet speculate on what has happened in Ukraine.
at least I have to study and analyze how true the news you are reporting here to be the subject of discussion. but one thing is positive and we should appreciate the legality of bitcoin in ukraine.

In general, this is good news for the development of the crypto-currency market. But I do not think that this will cause a rise in prices

I live in Ukraine and I see a lot of people who should pay a bribe to not be accused of terrorism when they have mining farms. So this is a good news for them

If there's a place where crypto mining is profitable in Europe this is exactly Ukraine, where the electricity cost is one of the lowest. However, the idea of "legalizing cryptocurrency mining" seems to me rather a pretext to tax it.

Ukraine doesn't depend from russian electricity. Ukraine consume its own electricity and has no lack of energy

This is a step towards mainstream adoption of bitcoin and altcoins. Ukraine is next to Russia both of which have talented blockchain developers so this is great news. The only problem is that Ukraine is reliant on Russia for energy and they don't have good relations. Hopefully, they will have enough electricity to mine new coins.

For us, as a "good day", many of Ukraine's deputies in the portfolio have 4000-5000 bitcoins and you think they will pay taxes?
Guys is are not the country in which you can most roscrutitsa!

The government in Kiev can legalize anything, they are not thinking what are they doing, and what profit they will see from crypto mining, crypto is popular and new, thats only the thing that matters for Kiev