Bitcoin Forum

I heard Ukraine is going to legalize the Bitcoin. The government in Kiev has taken concrete steps to legalize cryptocurrency mining. Ukraine’s Minister of Economy has ordered several ministries, agencies, and the National Bank to prepare the documents necessary to include mining in the state register of economic activities.This is a pleasure, Thanks Ukraine government. Welcome bitcoin friendly country list .

Source: https://news.bitcoin.com/ukraine-to-legalize-crypto-mining-as-economic-activity/

 Ukrainians mostly use bitcoin and invest in it and now number of people are using digital currency for online purchasing therefore, the government announced it's plan to nationalize the country's bitcoin-friendly bank.

what about taxes there ?

They're not doing it for the sake of block chain technology but taxation. They want to take some of your money because you're earning $ by mining and you're not paying taxes.  >:(

I have already heard that Ukraine has been known to be the last Bitcoin friendly country. It means that Ukraine gives legitimacy to the use of Bitcoin. Bitcoin will develop their country's economy and help the people of the country earn money. I hope Bitcoin will be accepted globally once. Thanks to Ukraine for writing the name of Bitcoin friends list.

This news is really good news for crypto users at least another country come in this race also this may help people to increase more profit also Ukraine will be benefited more because they are using digital currency and this will develop their economy as well and people will be invest their idle money.

I would personally not invest in Ukraine, at least not now. It might be actually one of the most cheapest places to mine Bitcoin. There are many Ukrainians who come to Poland and buy GPUs and other mining equipment and then take it back to Ukraine in order to use them in their mining farms. I would recommend anyone to wait and observe the situation in the Ukraine carefully. Nobody would want to lose money because of government changing the law constantly.

This is really good news for the crypto world because Ukraine is accepting crypto currency based on this it may create more value in the market and this will add value to people who wanted to invest in crypto market also this may cause of economic development.

this is also a happy news for bitconers as well because with the Ukrainian country inaugurating bitcoin to be one of their buying tools then it can create things that can affect other countries to be able to join bitcoin world too, with this bitcoin will become more valuable again

we really need this kind of news in this bear season and hope the other countries will follow the steps of Ukraine and open new ways of business for the crypto world.

Ukraine has always been friendly towards cryptocurrency and this is just the tip of iceberg on the implementation of cryptocurrency into Ukrainian economics

I think it is premature to say that Ukraine will create a tax haven for those who are engaged in crypto-currencies or mining. Still can change, in Ukraine now the situation of military conflict and do not expect that these issues will be resolved quickly.

I am from Ukraine and i hope Ukraine is going to be one of the friendly country to cryptocurrencies, because low developing countries must begin applying this kind of currencies, because it is very necessary for country. For instance, it is the same as applying XRP by small banks, because it improves their situation in marketplace, if it useful for banking system, of course.
But as about mining, mining is not profitable as in Canada or China(laying to electricity, temperature, leading business, speed of the Internet), but introducing by law in Ukraine could help our country to develop our technologies and economics.

Ukraine has a population of about 44,009,214 people, so it will not make a significant impact.  ??? { Compared to countries

with a much bigger population, like China with a population of 1,415,045,928 people. } The problem with the Ukraine is the

Internet, because a few years ago, only 30,3% of the population had Internet access.  The average income per person is +/-

$200. Salaries in Kiev are still the highest in the country: $655/month in 2013.  ::)

it seems so because I see today many countries are banning the circulation of bitcoin and the use of bitcoin so bitcoin is very rare and difficult to be accepted in all countries.

 don't think the Ukrainian government cares about people.Most likely the government is planning its security. This is money laundering and concealment of illegal income.

That is a really good news that another country is lagalizing bitcoin. Hope this will give bitcoin all the oppurtunities as the usual currency. Good days are coming.

Whoah! Ukraine took a big step towards cryptocurrency. And also they will not have to pay taxes for mining crypto.

I would very much like bitcoin to help Ukraine's economic growth, then it would be an excellent bitcoin advertisement!

About Ukraine... Now this country will be friendly for all western trends. Like - we are progressive and modern. But I don't believe in it. It is just a show. It is not for a people.

That would probably follow up but for now, it's best that they show positive interest towards crypto and its developing state, inviting investors that Ukraine is a friendly place to setup their businesses at. After all, if governments would start being positive towards crypto, it's a win-win situation since it will create jobs and generate more taxes while helping the crypto economy thrive and grow. For sure there will be crypto taxes in Ukraine since it's capital gains and big money that we're talking in here.

I wonder why every bitcoin price drops so many states that support bitcoin and unmitigated even those countries will legalize bitcoin as a currency to be used in various payment methods for its citizens? However, I am still grateful that the more countries that receive bitcoin the more bitcoin users are.

Countries are favoring bitcoin because it is reducing poverty by providing job to jobless and is and raising the standard of living of mass. it is more easy to use and can be easily transferred from one place to another place. With time the more people are taking interest the more countries are legalizing it and allowing its mass to gain double of output.

That would definitely help to stop monopoly in mining by China which has the largest number of mining farms in the world.

For now ukraine but i think it will change soon any many new countries will add in this list.

Great news that another country is warming to bitcoin. The Philippines are legalising it and now the Ukraine. Nice to have some diversity rather than similar countries doing it. Makes it more interesting for hodlers who like to travel

Wow! So Ukraine is now the newest addition to the country who will be on top few years from now because they embraced changes. I truly believe that those countries who started to adapt cryptocurrency early will be prosperous in the future. Blockchain is the future of business industry. It will be the richest industry in the future.

as a rule of thumb all countries are friendly towards bitcoin unless proven otherwise. and when i say proven you need legit sources showing you the government has passed a law against bitcoin otherwise the news and the media is filled with false information about bitcoin in different countries!

It's one thing to declare one's intentions and another thing to put them into practice. Ukraine has not yet adopted a law on the crypto currency in which at least the status of the crypto-currency will be determined. How can I regulate what is not? I think that it will be a long time before the Ukrainian government legalizes crypto-currencies.

I have already heard that Ukraine has been known to be the last Bitcoin friendly country. It means that Ukraine gives legitimacy to the use of Bitcoin. Bitcoin will develop their country's economy and help the people of the country earn money. I hope Bitcoin will be accepted globally once.

That might be a good idea and I would suggest it to my friends and relatives. May be one year is enough to observe if the law established is stable and will not meet any further revisions.


Why would they tax crypto mining? People may pay for the legalization of business but I don't think that they can tax crypto since it is not something that the nation do not own. Maybe the electricity but people are paying for it.

I extracted following from article you shared.  
Let Ukraine government pass these bills first before we place them in the crypto friendly country list.

Ukraine is an oligarch land, where people still steal money like in the 90s in Russia, but nowadays they do it fully legal on government level.
This law is mostly for politicians who managed to get a lot of crypto in 2017, so now it should be legal  :) so they can spend on yachts, cars, appartaments, etc.
Ukraine is trying to boost pockets of rich people to make them more richer, for the country this law doesn't mean that much, as mostly in Kiev you can see blockchain expos which are just gathering money, promoting startups and providing 0 progress to the industry itself, which is actually a common problem of such type of events worldwide.
Ukraine still is a very poor economy country, and this law could only help to boost it, but sadly, this won't happen because people from government will take all for themselves.

Ohh thats the reason why mostly I get lots of friend request from Ukraine.I got lots of fb friend request and mostly are from Ukraine.All of them are connected to crypto.Thats a great news then from Ukraine because their country is legalizing bitcoin, unlike other countries they banned bitcoin.

Ukraine must be proud of this since it can greatly boos their economy and will be a big contribution to the community also, I think that the Government of Ukraine would be able to manage everything in order, though I'll be observing well their economy with the help of BTC.

Thats a true mate.

"The second draft law states that cryptos are financial assets".

This is a very mouth warning information. Ukraine will write its name in the anas of history soon and I believe this will give cryptocurrency the age over financial payment system because of the decentralized advantages.

This legalization, if it will be carried out, with one goal: to force to pay taxes. I think for this government of Ukraine, the tax at 25-30% is normal.

Im not sure

Yes, Ukraine has been very open to bitcoin in the last few years. Some of my friends are now working in mining in Ukraine. In this country, there is a power resource for bitcoin mining, which is cheaper.

A very positive move of Ukraine and it will give Bitcoin Miners some good hope.

Agree to that,online business like bitcoin is more profitable when spreading to other country.Now in Ukraine,hopefully will go globaly.The more coins you get will doble your money back.

Ukraine can not be so happy at the expense of Ukraine. They then legalize, but on what terms. Itself from there and with care I treat their words. In general, time will tell.

Ukraine has a population of around 28-30 million of people as of now
even the govermental statistics institutions admit they need to have an urgent count
due to the inept goverments and policies more than 20 mil of people have either fled the country or died since the declaration of Independance in 1991
internet in Ukraine is not a problem,it is very good,actually and extremely cheap
100 mb line unlimited costs 8$ a month,including free IPTV with more than 180 channels
and the average salaries in Kiev are not even 500$ now,since the coup-d'etat in 2014 and the civil war in Donbass region

There was no coup d'état and civil war! Don't be engaged in propaganda here! This forum isn't for this!

The current state of Bitcoin and cryptocurrencies in Ukraine is not that different from many other countries - so parliament members want to legalize it, each with different proposed regulations, some officials would want to ban or restrict it, National Bank doesn't want to recognize it as a currency, and in the end nothing changes, because majority of the government doesn't really care about it, it's not massively adopted to the point it would be making any difference, so the parliament just ignores all the Bitcoin bills. Try to pay less attention to news like these, they mean very little in the long run, only pay attention to when some laws regarding crypto get successfully passed.

This is a big step for Ukraine definitely. Bitcoin has a lot of advantages which everyone should enjoy. People from that country will definitely be ahead when it comes to payment system in the future for sure.

That's a good thing, if the government takes good measures to manage the market participants, then I think the country will grow rapidly in the future, I'm happy for that.

I believe gradually, most countries will come to accept bitcoin as an alternative currency, some countries are just yet to come to terms with the whole idea. But sure there are prospects for bitcoin

The cryptocurrency market in Ukraine is not regulated by law, and this gives the crypto-enthusiasts vast space for maneuver.
But the government is trying to get the mining business out of the shadows and also get the money from the mining.

wonderful. i think the perception and mindset of people regarding bitcoin is changing with time because initially most of us thought that bitcoin would never be accepted by any country but currently there are news surrounding so many countries like Kenya, Uzbekistan, Philippines who are all introducing cryptocurrencies into their system. This would all help promote bitcoin so that it can finally be legalized globally as an accepted mode of payment for transaction.

That's great news, congratulations to all bitcoiners there, cause your country are open minded in this kind of investment, I wish that all country are open minded in cryptocurrency .

I think that this is good for us, this kind of news are always opening new doors from other countries to new people that has never invested on bitcoin before. This is good guys, i am more than proud of what is behind done behind the curtains

But I would expect that they will be imposing taxes on every earning you have there. It is good that the country will start to legalize bitcoin but I hope if ever they will put tax on it just make it small.

Yes, it is great and let's all hope it's true. Their authorities even said they were  considering launching their own crypto ;)

Ukraine is a progressive country so I'm glad that they saw the true potential of blockchain. Despite all the other countries showing it's hate on crypto and ban, we still have allies out there like Ukraine that could help change their minds or to check and study it again.

for the time being, it's best that they demonstrate positive enthusiasm towards crypto and its creating state, welcoming financial specialists that Ukraine is an agreeable place to setup their organizations at. All things considered, if governments would begin being sure towards crypto, it's a win-win circumstance since it will make employments and produce more assessments while helping the crypto economy flourish and develop. Without a doubt there will be crypto assesses in Ukraine since it's capital additions and enormous cash that we're talking in here.

good news for all bitcoin drachers and users .. hopefully this can be followed by other countries as well ..

another country that endorse the use of Bitcoin is a pretty good news.
I hope many others will follow Ukraine.

Slowly but surely we're heading there... crypto is taking over... everyday there is more projects and more voice of crypto around the globe. Good news anyway!

Ukrainians use bitcoin to buy and sell online and ithiss s a country that seems most friendly with bitcoin

Actually for me the friendly country in bitcoin is the USA
because they are the strongest country who believe that bitcoin is not a scammed or fraud and will help you to become successful in future.

It looks like good news, but Ukraine government thinking only about them self. They are using bitcoin and crypto on bad side of it-laundering, avoid taxes, corruption. Will see what will happens in future)