Topic: urgent Ukraine has adopted a draft law to legalize all digital currencies (Read 178 times)

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A little bit of research confirms this.


It makes sense that the regulation would be with the same department which regulates
stocks and securities, in the article above they state Bitcoin will not be recognised
as legal tender but rather an investment like the stock market.

That article by Fortune is quite interesting it goes on to say,


I'm taking it that as hatshepsut93 says there are not too many options for a lot of people
it makes sense if you are an IT Technician, crypto is an obvious route.

This is absolutely incorrect, this law has been developed years ago, it got successfully voted by the parliament in the last year, but the president vetoed it and proposed a few changes, and only now it has been adopted with those changes. Ukraine has a fairly large cryptocurrency market, because its people don't have a lot of options for investing and because the country has a lot of IT specialists, who are more likely to get interested in crypto. So the government decided to recognize cryptocurrencies instead of leaving them in the grey zone.

One thing to bear in mind regarding Ukraine is that it only pass a bill to legalize the use of cryptocurrency such as bitcoin by businesses, firms and individuals in the country with the government approval/permission that such digital currency exits, the citizens uses and the government does not ban it and not that it was accepted as a legal tender.

The legalization of bitcoin by the Russia made huge positive impact on the bitcoin.The Russian economy is sound next to American, even Russia maybe the reason for the huge rise in the price of bitcoin after 2018.After a 2017, huge fall in the bitcoin price. People get quite confused to hold or sell of same coin. Ukraine made a huge investment in the past. So they legalized the bitcoin and this impact the huge in a short period of one week. Wait for the moon in the bitcoin price.

It’s pretty interesting that Russia first legalizes bitcoin / cryptocurrency and now Ukraine. Obviously pretty interesting timing for both of them to be working on a deal like this. Have to wonder if it had to do with any anything had in receiving aid from the outside.

I don't think you need to report your holdings on the specific address, there's no privacy anymore. I guess we should read the content on the law or legalization of crypto before we state our opinion on it. At least his country understands that with bitcoin and crypto, it can be a good hedge of the possible hyperinflation once the war will happen, it's a good alternative or solution to a struggling country.

Since I do not live in Ukraine I can not give many details about the current situation of this country but from what I can see on the new and due to the recent tensions between this country and Russia they may start adopting bitcoin and start legalizing it because even if the Russia attack really happens and this country will have some problems will international transactions bitcoin can help them because of the being borderless, in the other hand Russia is doing the same thing because they expect to face some economic sanctions but bitcoin can help them.

I would keep my cryptocurrency away from regulators. Even if it is legal in the country and has a legal status. In countries like Russia or Ukraine, the laws work not for the people, but against them. Probably once you put your address in front of the financial regulators you might get in trouble. Don't trust the government, cryptocurrency was created on other grounds.

With the actual intense condition of Ukraine, i think it's weird that the parliament is interested in digitization. At the same time, we should be waiting for the Russian new decisions towards digital currencies and mining.

It's legalized means that it can be used as a mean of exchange and of course as a payment method.

Ukraine is indeed in a fairly tense condition at the moment, related to the ongoing conflict between Ukraine and Russia today, but in geopolitical tensions, the Ukrainian parliament has recently passed a new law that legalizes bitcoin in Ukraine, this regulation will clearly have a positive impact for the development of crypto in the country and investors and existing exchanges can move comfortably, but so far it is not clear whether the regulation also certifies bitcoin as a legal tender or not in Ukraine.

All digital currency use, circulation, and investment will now be legal in the state. The law will affect business leaders in crypto and blockchain in the state. The bill sets out clear regulations and obligations for digital currency trading platforms.

The Ukrainian parliament voted in favor of legalizing digital currencies including Bitcoin. The Virtual Assets Bill has been passed in Parliament, under which all digital currencies will now have legal status in the country. Specifically, the investment, circulation, and use of digital currencies will henceforth be legal in Ukraine. However, Bitcoin or any other digital currency will not be recognized as a legal currency in a state like El Salvador.

Ukrainian Minister of Digital Transformation Mikhailo Fedorov expressed his gratitude and satisfaction with the newly passed bill. According to Fedorov, this new law will provide important opportunities for digital companies in the country, and allow virtual platforms and trading platforms to circulate more freely. He also stressed that the legalization of digital currency would help the country's ongoing digital transformation.

Fedorov also expressed that the law would allow more pilot projects to flourish in the country surrounding the area of digital currencies and blockchain, and would allow more capital investment to flow into the industry.

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all the article is her :https://nwscoin.blogspot.com/2022/02/ukraine-has-adopted-draft-law-to.html