Ukraine wants to legalize crypto (again)

hatshepsut93

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Quote from: zahed on November 23, 2019, 03:52:56 PM

Great news! I read a lot of articles about the news. Most important thing is top crypto exchange already involved or as a advisor with Ukraine ministry authority to help legalization of cryptocurrency. Most provably it will be happen end of this year. @cz_binance already tweet regarding the news and Binance team participating in the conference.

This could be a good development, but there's always a chance that other parts of the government, like the central bank or prime minister, or the parliament, some of them might block Binance from entering Ukraine. Ukraine is one of a few countries where PayPal doesn't work, because of stupid regulators, so anything can happen. Let's not get hyped by news and announcements and wait for results instead.

zahed

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Great news! I read a lot of articles about the news. Most important thing is top crypto exchange already involved or as a advisor with Ukraine ministry authority to help legalization of cryptocurrency. Most provably it will be happen end of this year. @cz_binance already tweet regarding the news and Binance team participating in the conference.

hatshepsut93

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Interesting news from Ukraine - recently the term "cryptocurrency" was used in one of the passed laws. The law covers declaration of property and assets by government officials, and it aims to reduce corruption by making those declarations transparent to the public. The subjects of this law have to declare all their cryptocurrency holdings and provide additional details like the date when they have acquired their cryptocurrencies, and the price at that date.

So, even if crypto isn't officially regulated, it does get recognized by the state as an asset.

migws

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Quote from: jaocoincrypto18 on October 28, 2019, 11:37:39 PM

The new president needs all strategies to make their economy to become strong and stable therefore if they think that crypto currency could also help them then lets just wait and see. Once legalized they will fully impose taxes from crypto currencies earnings in which one of the advantages that the government could not refused.

It seems to me there is a sense to take an example from China and start with the implementation of Blockchain. In my opinion, this will be more profitable for every sphere in the country, especially for the financial one. It can remove corruption and take elections to a new level, right?

senin

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Quote from: ?? on ??

Ukraine finally saw potential of Bitcoin and other cryptocurrency because it might have started from many of people who made living through crypto so the mass adoption for crypto namely bitcoin in Ukraine began to be planned. This is a good thing and forward thinking because it will further develop if many government officials are calling for legalizing crypto in their respective countries. With the call for acceptance of Crypto in Ukraine hopefully it can truly function and can increase transparency in all fields of industry.

In Ukraine, not only have they begun to turn their attention to cryptocurrency. It already has its own Carbo cryptocurrency, working cryptocurrency exchanges and exchangers, and the cryptocurrency goes through its territory completely and without any problems. For several years now, the legislative body of Ukraine, the Verkhovna Rada, has had several good bills on the legalization of cryptocurrencies, including those that completely free its holders from paying any taxes related to cryptocurrency. A few years ago, about thirty deputies of the Verkhovna Rada made cryptocurrencies in their tax returns, but the relevant ministry explained to them that since cryptocurrency is not legalized, you should not mention its presence in tax returns. Now it is only about the fact that in Ukraine soon they are finally going to legalize it by adopting the relevant laws. There is no doubt that such laws will be adopted.

jaocoincrypto18

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The new president needs all strategies to make their economy to become strong and stable therefore if they think that crypto currency could also help them then lets just wait and see. Once legalized they will fully impose taxes from crypto currencies earnings in which one of the advantages that the government could not refused.

Casdinyard

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Quote from: Zeke_23 on October 28, 2019, 06:19:56 AM

Some may say that the decision of the government of Ukraine is good; However, we all know that their economic status is not doing good. They also suffer from corruption which affects even their justice system and civil society.
This may have an effect to increase their status, or maybe make it worse.

Ukraine now is under new administration of President Zelensky, although the corruption issue is hard to diminish into the government but who knows, right?

What Zelensky and Ministry of Digital Transformation plan is to legalize bitcoin cash and bitcoin core ( though Idk why bitcoin is not included ) while the propose bill is also to attract new exchange sites to come in Ukraine. Needless to say, that this new administration is pushing through the bill as soon as possible and be ahead to their neighbors hence building a crypto valley is a big step for them.

cutesgirl

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Quote from: Mandoy on October 21, 2019, 08:54:15 AM

Ukraine is very wise when they are doing anything to fast track the crypto legalization in Ukraine. This is a win-win solution both for the government as well as the crypto-sector. The crypto-community will be free in using cryptocurrency and can expect an increase in the number of merchants and number of users in Ukraine. Crypto-sector will become more livelier than ever. Also in the government side they can easily place regulations and guidelines as well as collect taxes from cryptocurrency business activities.

Adoption bitcoin as legal transaction by Ukraine government give many positive effect for bitcoin and altcoin excatly in Europe, many country want to allow how Ukraine organize with bitcoin and altcoin as legal transaction payment, they will give opportunity for bitcoin become safety and faster transaction if adopt bitcoin and altcoin, just waiting when Ukraine announce for bitcoin and altcoin become legal.

dimox

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Quote from: angrybirdy on October 28, 2019, 07:54:46 AM

Quote from: bitbunnny on October 28, 2019, 06:29:56 AM

Quote from: Zeke_23 on October 28, 2019, 06:19:56 AM

Some may say that the decision of the government of Ukraine is good; However, we all know that their economic status is not doing good. They also suffer from corruption which affects even their justice system and civil society.
This may have an effect to increase their status, or maybe make it worse.

I'm not sure that this could help the state at all. Such news is always good accepted in crypto community but Ukraine itself and government will not profit from that even if they succeed. And I'm not sure if crypto business in Ukraine could use this opportunity for fast recovery.

We never know until it happens. Ukraine can use this opportunity but I also do not believe that they can reverse their current situation to a better shape. The legalization of crypto doesn't bring economic boost that easily. Unless they make a move to earn it.

bitcoin can make economy better depend on people, how effective they are use this stuff. if in that country most people dont know about bitcoin, it mean just small of group will expand their economic.

tambok

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Quote from: angrybirdy on October 28, 2019, 07:54:46 AM

Quote from: bitbunnny on October 28, 2019, 06:29:56 AM

Quote from: Zeke_23 on October 28, 2019, 06:19:56 AM

Some may say that the decision of the government of Ukraine is good; However, we all know that their economic status is not doing good. They also suffer from corruption which affects even their justice system and civil society.
This may have an effect to increase their status, or maybe make it worse.

I'm not sure that this could help the state at all. Such news is always good accepted in crypto community but Ukraine itself and government will not profit from that even if they succeed. And I'm not sure if crypto business in Ukraine could use this opportunity for fast recovery.

We never know until it happens. Ukraine can use this opportunity but I also do not believe that they can reverse their current situation to a better shape. The legalization of crypto doesn't bring economic boost that easily. Unless they make a move to earn it.

This is indeed a great step in the crypto world, if Ukraine will legalize crypto and the outcome of it is good, then countries that are in favor in crypto will be given the chance to legalize it as well, as they've seen success from Ukraine, it will really a big thing and good news in crypto industry.

angrybirdy

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Quote from: bitbunnny on October 28, 2019, 06:29:56 AM

Quote from: Zeke_23 on October 28, 2019, 06:19:56 AM

Some may say that the decision of the government of Ukraine is good; However, we all know that their economic status is not doing good. They also suffer from corruption which affects even their justice system and civil society.
This may have an effect to increase their status, or maybe make it worse.

I'm not sure that this could help the state at all. Such news is always good accepted in crypto community but Ukraine itself and government will not profit from that even if they succeed. And I'm not sure if crypto business in Ukraine could use this opportunity for fast recovery.

We never know until it happens. Ukraine can use this opportunity but I also do not believe that they can reverse their current situation to a better shape. The legalization of crypto doesn't bring economic boost that easily. Unless they make a move to earn it.

ufaiz50

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Taxes for trade and mining? Isn't it rather hard to do. How does the government take tax on crypto trading, if the government opens the crypto market it can be done, but is there a local exchanger in Ukraine?

Many countries say that adoption of crypo technology makes me personally happy. Then the regulation for the use of global currency is not hard to do, I'm talking aside from TAX. Besides the global use of bitcoin cryptocurrency or USDT can invrease the crypto adopt in market but can it be beneficial to the country's economy, it's like importing Fiat into cryptocurrency.

bitbunnny

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Quote from: Zeke_23 on October 28, 2019, 06:19:56 AM

Some may say that the decision of the government of Ukraine is good; However, we all know that their economic status is not doing good. They also suffer from corruption which affects even their justice system and civil society.
This may have an effect to increase their status, or maybe make it worse.

I'm not sure that this could help the state at all. Such news is always good accepted in crypto community but Ukraine itself and government will not profit from that even if they succeed. And I'm not sure if crypto business in Ukraine could use this opportunity for fast recovery.

Zeke_23

sr. member

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Some may say that the decision of the government of Ukraine is good; However, we all know that their economic status is not doing good. They also suffer from corruption which affects even their justice system and civil society.
This may have an effect to increase their status, or maybe make it worse.

Sithara007

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These measures came a bit too late, I am afraid. A few years back, Ukraine was home to a lot many cryptocurrency ventures. Even the Bitcoin exchange BTC-e (later renamed as Wex.nz) was based from there. However, most of these ventures either closed down or were forced to shift their operations to other countries due to the hostile stance of the government.

The current attempts to attract investment by the Volodymyr Zelensky regime will be welcomed by the cryptocurrency users. But they will be needing assurances from the government. The regime needs to assure the investors and users by providing a guarantee that the official policy will not be reversed anytime during the immediate future.

pjcaruci

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All countries should adopt crypto in order for the economic system to advance a little in development

RapTarX

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All the villagers of a village in Ukraine is holding cryptocurrency now, it's off topic here though.
A guy had invested $494 on Cardano and had a return of $1380 later from which he kept his investment and the rest was distributed among all the villagers of that village. This a great work done by that guy. You know it's a great promotional activity in favor of cryptocurrency.

mazdafunsun

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Ukraines economy is not doing great because of the Russian problems, they just recently dot their ACTUAL independence from them. They are still engaged in a war, and suffer from corruption. They should get on any new horse they can find, they need the influx od new ideas and capital bad to promt up their economy.

Wintersoldier

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Quote from: Argoo on September 28, 2019, 01:20:58 PM

Compared to the fact that Ukraine previously proposed to exempt cryptocurrency holders from paying taxes, or to exempt them for a certain number of years, the statement of this minister is already a step back. Although, you need to look not by intention, but by the final results. Let them adopt specific laws, then what will be discussed.

Most of the times, it is our key to development is our intelligence and understanding, for me, If I am in the case of the researcher, I will consider using a legit working project, basically if we will going to try what will happen, we might have a difficulty in times of running the entire project transactions. In relation to legalization of crpyto, for me, legalize crypto could be possible if they can somehow support the government and vice versa.

Baby Dragon

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Quote from: Google+ on October 21, 2019, 06:33:55 AM

well it seems that the ukrain government has found a point where they can get a lot of benefits when providing legality about the use of cryptocurrency in their country, because usually the government will not give permission for distribution and use which they say cannot benefit the country.

Indeed, they won't allow it unless it will be beneficial for their people and the country maybe they finally realized the opportunities they might get from crypto. Its good to see that Ukraine's government understands how a digital currency works because it can have a huge impact on other country since its possible that it can influence the decision of other country's government. Government officials are wise, they have different way of thinking and most of them are only thinking for their own sake but this time you can clearly see that they are concern about their people and they wanted to give them some opportunities to make some money using cryptocurrency.

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