Ukraine May Soon Legalize Bitcoin

[ikydesu]

Ukraine became the third country in the world after the UK and Canada, where the central bank decided to study the prospects of cryptocurrency in developing new financial technologies. This will ensure that we maintain our current leading position in the world of Bitcoin.

Prior to the meeting, the BFU prepared a lengthy presentation, which was then sent to any interested parties, explaining how Bitcoin works and prospects of its blockchain technology so that the talks would be more “constructive.”

The meeting was hailed as a success.

I would conclude that the meeting was very positive, so the future is bright for Bitcoin in Ukraine.

Source: http://cointelegraph.com/news/115203/ukraine-may-soon-legalize-bitcoin

It's good news for Bitcoin community

[dothebeats]

This news is good for bitcoin overall, given that it will somehow boost the adoption rate and more people would likely be interested in using bitcoins. If countries like UK, Canada and Ukraine are open about adopting and using bitcoins, then I don't think we don't need to rely too much on fiat money to be able to buy stuff. But it is just too unlikely to happen.

Overall, good news for us bitcoin advocates!

[Zawamiya]

If they legalize bitcoin then its good for future of bitcoin, more then 10 countries should legalize bitcoin before 2016 halving to keep the price safe from crush and profitable for miners

[maokoto]

And Ukraine is pretty inestable now... so people there will tend to consider an altertante currency more. Could be a good advance.

[PolarPoint]

Surprised how open-minded is the National Bank of Ukraine. I would expect them to be bureaucratic about bitcoin and have a closed group to draft a plan to regulate bitcoin. They met with a local group BFU and will speak in a bitcoin conference? Many other more developed countries should follow their example.

[Mickeyb]

Surprised how open-minded is the National Bank of Ukraine. I would expect them to be bureaucratic about bitcoin and have a closed group to draft a plan to regulate bitcoin. They met with a local group BFU and will speak in a bitcoin conference? Many other more developed countries should follow their example.

Yes, exactly my thought. Who would have say that Ukraine would be so open, especially in the midst of their current problems. Maybe they are just doing opposite of the Russia to piss off the Russians! Little joke of course.

On the more serious note, another great article for Bitcoin today, together with music industry one, Barclays article and now this news. Good day for Bitcoin news wise!

[Denker]

That's again today some really interesting news. So let's see how things will develop in the future. But it's great to see a central bank being more open instead of blocking or throwing with mud.

[frenulum]

Ukraine is one of the biggest receivers of Bitcoin remittance, apparently.

[masterluc]

Well I live in Ukraine and use Bitcoin since genesis and don't know how that motherfuckers may help me. I just don't need them.

"Bitcoin conference" even doesn't have Bitcoin option for ticket payment lol. If some government motherfucker organize some meeting - that is only for purpose to steal some money from budget.

Even if they legalize it - no one will show their accounting in Bitcoin for tax. Because if you show money, you'll get a crowd soon in masks with clubs and guns and they'll take your money away. No chance to go legal if you are not gangster.

People are poor here - 42 million. And what is worse - people are not intelligent to understand this technology. I even don't try no more to explain.

Good luck with your "bullish news". You have no idea what you are talking about.

[rinhunter]

good news
with there is i hope price go up.
and keep waiting until legalized in my country.

[Pab]

 Great news for bitcoin and Ukraine his hrywna is devaluated,.Goodchance for Ukrainian business

[goosoodude]

Great news for bitcoin and Ukraine his hrywna is devaluated,.Goodchance for Ukrainian business

It could be, if they play their cards right. Right now there is a certain need for a country that is 100% crypto friendly, for exchanges and
bitcoin services to use it w/o fear of some regulations.
My biggest fear are still banks, because most of them are still owned by outside banking giants who may still find a way to block associated bitcoin accounts.

[cellard]

It's always goo news to see official governments accepting BTC but I think the main goal of that country would be getting all of their basic stuff covered first, but maybe BTC helps getting things into motion who knows.

[RustyNomad]

This is really good news.

One can only hope that other central banks will follow this same approach. It will sure help to drive mass adoption if a couple of countries give bitcoin the green light in this way.

[NorrisK]

Great news for bitcoin and Ukraine his hrywna is devaluated,.Goodchance for Ukrainian business

It could be, if they play their cards right. Right now there is a certain need for a country that is 100% crypto friendly, for exchanges and
bitcoin services to use it w/o fear of some regulations.
My biggest fear are still banks, because most of them are still owned by outside banking giants who may still find a way to block associated bitcoin accounts.

So you want all exchanges to set up business in Ukraine? Don't know if I feel so safe if all their HQ were located there to be honest..

[tche]

Ukraine in practice is in civil war, the law means nothing because tomorrow a new government may arise and cancel it, and the country is too stable to attract bitcoin investors

[b457]

Even if it was only a meeting, it could help the Ukraine to get back some of the economic power they lost.

[Lauda]

This would actually be great. We need more places where Bitcoin is perfectly legal in some way. Places in which privacy isn't that harmed as in the US or UK. Interestingly enough, some countries (3rd world) try making their own rules which end up being much worse than those of the 1st world countries. It would be better if they followed the regulations from Switzerland in a similar matter.

[Possum577]

Has Ukraine declared that Bitcoin is illegal in their country? If it's not illegal, it must be legal already.

It IS great news, however, that they're taking Bitcoin seriously...the challenge is that there investigation could lead to them outlawing it rather than ignoring it. There's always a price to pay with awareness and growth.

[OmegaStarScream]

Was just reading the article on CoinTelegraph and share it with the communit then I saw that you did it
Honestly it's pretty good news but I wish we could see on different countries , there is countries now that don't even know what bitcoin is (goverments or people , same thing)

[S4VV4S]

Has Ukraine declared that Bitcoin is illegal in their country? If it's not illegal, it must be legal already.

It IS great news, however, that they're taking Bitcoin seriously...the challenge is that there investigation could lead to them outlawing it rather than ignoring it. There's always a price to pay with awareness and growth.

I was wondering about the same thing.
When was Bitcoin illegal in Ukraine?

[mallard]

Even if Bitcoin was illegal, how exactly would they try and block it?

[Hazir]

Even if Bitcoin was illegal, how exactly would they try and block it?

Unless you have power to block whole internet (like North Korea) you technically can't do anything to block bitcoin. It is just empty slogan/law to scare people away.
On the second hand Ukraine has a lot other problems and I think bitcoin is the least important part of their "to do" list. It is good however that they are not fighting it anymore.

[fiN.]

Has Ukraine declared that Bitcoin is illegal in their country? If it's not illegal, it must be legal already.

Well there are lots of new designer drugs that pop up and just because they aren't ilegal doesn't mean they wont become so. The law just needs time to catch up, but I think them saying that bitcoin is legal goes a long way.

[Kprawn]

This is the part where you will have to worry about ... " Back on May 27, a draft of Ukraine’s own BitLicense was introduced by Chobanian at an extended board session before the NBU. The initial reception has been described as “surprisingly positive” by the country’s Central Bank and financial sector, while the draft in its current form would create a self-regulating organization (SRO) that would issue licenses to businesses dealing in cryptocurrencies. "

So we might see another BitLicense scheme like in New York, where the poorer startup companies would be excluded, if they cannot afford the license. These licenses only benefit the local governments and not

the people who has to pay it. They have just received a additional opportunity to gather more income from the Bitcoin community and they capitalize on that.

When will these people understand that Bitcoin is supposed to be for everyone... Why do you think we still have so many unbanked people in the world? Stop licensing Bitcoin FFS. 

Give poor people the opportunity to enter the market, without having to pay for it. 

[wearehatetherules]

how about now?how was that information?is bitcoin already legal on ukraine?

[Luqman]

The more people known bitcoin it will good for our community..

[RealBitcoin]

What do you mean legalize? Was it illegal before? I dont think so.

So the proper term would be "accredit" or "embrace" , just to not get confused by semantics.

[bryant.coleman]

What do you mean legalize? Was it illegal before? I dont think so.

Coin Telegraph always has a tendency to misinterpret and exaggerate the new articles regarding Bitcoin. In this case also, the same has happened. Bitcoin was never made illegal in Ukraine. However, it is in the grey zone, without adequate rules and legislation regarding its usage. The government is currently trying to regulate its usage.

[dollarneed]

well this is a good news for the community,It will sure help to drive mass adoption if more of countries addoption bitcoin. so far there are 3 countries that legalized bitcoin but actually I wish we could see on different countries that legalize bitcoin thats gonna be epic

[Daniel91]

Ukraine became the third country in the world after the UK and Canada, where the central bank decided to study the prospects of cryptocurrency in developing new financial technologies. This will ensure that we maintain our current leading position in the world of Bitcoin.

Prior to the meeting, the BFU prepared a lengthy presentation, which was then sent to any interested parties, explaining how Bitcoin works and prospects of its blockchain technology so that the talks would be more “constructive.”

The meeting was hailed as a success.

I would conclude that the meeting was very positive, so the future is bright for Bitcoin in Ukraine.

Source: http://cointelegraph.com/news/115203/ukraine-may-soon-legalize-bitcoin

It's good news for Bitcoin community

It sound like great news but let's try not to speculate to much and wait for more official news.
I'm sure that Ukraine can't control bitcoin or regulate it but surely they can help Bitcoin expansion in their country.
They have a lot economic and political problems so hopefully they understand and see how bitcoin can help them

[hdbuck]

could we stop with this legalize ting?

bitcoin is not subject to any kind of legal approval..

[Amph]

could we stop with this legalize ting?

bitcoin is not subject to any kind of legal approval..

yeah it's funny like those that want to ban bitcoin, it's like banning lan network, bitcoin can't be illegal from a certain perspective

all this alarmism are there to scare or fool the naive users and the mass, real bitcoiners will not fall for it

[hdbuck]

could we stop with this legalize ting?

bitcoin is not subject to any kind of legal approval..

If bitcoin doesnt reach a critical mass before they start to ban it then nobody is stopping them to destroy btc.

Parlaments tend to vote 90%-10% against the wish of 90% of the people, and if no public reaction is to this, then they get away with betraying their voting herd.

It does need legal approval unfortunately, because an underground currency wont really matter, but if its legalized then businesses can build on it and everyone would be better off with.

I`m sorry that soon we will need government approval to pee, but this is the world we`ve been born into.

Fuck "critical mass". Fuck "businesses". Fuck "parliaments". Fuck "government approval".

Fuck your world. Fuck you statist idiot.

This is Bitcoin. This is Freedom.

[Stargazer]

They are doing what they can to bring some money into the country. Ukraine is struggling with so many problems right now and many young people left the country due to low wages, unemployment and in fear of conscription. I don't think embracing Bitcoin is going to help them but it's a step in the right direction.

[jt byte]

They are doing what they can to bring some money into the country. Ukraine is struggling with so many problems right now and many young people left the country due to low wages, unemployment and in fear of conscription. I don't think embracing Bitcoin is going to help them but it's a step in the right direction.

If Ukraine Legalize Bitcoin will the price go up or will crash again like in the past?

[brg444]

could we stop with this legalize ting?

bitcoin is not subject to any kind of legal approval..

If bitcoin doesnt reach a critical mass before they start to ban it then nobody is stopping them to destroy btc.

Parlaments tend to vote 90%-10% against the wish of 90% of the people, and if no public reaction is to this, then they get away with betraying their voting herd.

It does need legal approval unfortunately, because an underground currency wont really matter, but if its legalized then businesses can build on it and everyone would be better off with.

I`m sorry that soon we will need government approval to pee, but this is the world we`ve been born into.

Do you have any idea of the size of the "underground" economy?

I've told you in your other thread to stop trying to pander to the mass of puppets, they are irrelevant and have no impact over Bitcoin's success.

[brg444]

could we stop with this legalize ting?

bitcoin is not subject to any kind of legal approval..

If bitcoin doesnt reach a critical mass before they start to ban it then nobody is stopping them to destroy btc.

Parlaments tend to vote 90%-10% against the wish of 90% of the people, and if no public reaction is to this, then they get away with betraying their voting herd.

It does need legal approval unfortunately, because an underground currency wont really matter, but if its legalized then businesses can build on it and everyone would be better off with.

I`m sorry that soon we will need government approval to pee, but this is the world we`ve been born into.

Fuck "critical mass". Fuck "businesses". Fuck "parliaments". Fuck "government approval".

Fuck your world. Fuck you statist idiot.

This is Bitcoin. This is Freedom.

What the fuck is wrong with people today, i get insulted for no reasons. So please stop insults and lets be civilized here.

You probably mis-interpreted my post, i like freedom, but i`m just saying that this world wont be free because people are too dumb and have a herd mentality.

Parlaments always vote agains their constituents, and they always get away with it. If people are that dumb and uncaring, then who will bring justice here?

Look I'm not sure what you're talking about but Bitcoin is sovereign and needs the approval of no government or any other institutions to exist, that much is clear.

[hdbuck]

no.
simply no.
no concessions.
it is already unstoppable.
sry for the insults, altho you seem still not to get it, talking regulation mass adoption bs et al.. so whatever, ignored.

[brg444]

could we stop with this legalize ting?

bitcoin is not subject to any kind of legal approval..

If bitcoin doesnt reach a critical mass before they start to ban it then nobody is stopping them to destroy btc.

Parlaments tend to vote 90%-10% against the wish of 90% of the people, and if no public reaction is to this, then they get away with betraying their voting herd.

It does need legal approval unfortunately, because an underground currency wont really matter, but if its legalized then businesses can build on it and everyone would be better off with.

I`m sorry that soon we will need government approval to pee, but this is the world we`ve been born into.

Fuck "critical mass". Fuck "businesses". Fuck "parliaments". Fuck "government approval".

Fuck your world. Fuck you statist idiot.

This is Bitcoin. This is Freedom.

What the fuck is wrong with people today, i get insulted for no reasons. So please stop insults and lets be civilized here.

You probably mis-interpreted my post, i like freedom, but i`m just saying that this world wont be free because people are too dumb and have a herd mentality.

Parlaments always vote agains their constituents, and they always get away with it. If people are that dumb and uncaring, then who will bring justice here?

Look I'm not sure what you're talking about but Bitcoin is sovereign and needs the approval of no government or any other institutions to exist, that much is clear.

Thats the problem, first you insult and then you dont even know what i`m talking about.

I was talking about the adoption being massively obstructed if it were illegal.

The whole point for bitcoin is to be a global currency, if people are faced with the thread of jail they will be discoruaged to use it, and only mobs will use it which will make it more dark than it currently is.

For bitcoin to be succesful, it must be legal, and it has to comply with regulations too.


Sorry but it will take a long time until bitcoin becomes really independent, currently it's economy is dictated by the establishment. So it would be better if it remains legal so that bitcoin metchants can expand and prosper.

Dont worry in 5-10 years bitcoin will be really unstoppable, but until then we need to work with the establishment.

 

The use of off-shore bank accounts and tax heavens are considered illegal in most countries. Did that stop their adoption? Have you ever heard of the 100T$ shadow banking industry?

For Bitcoin to be succesful we don't need the common people to use it as a currency. That's where you logic is broken. Bitcoin is a financial instrument akin to gold, diamonds, SDRs, etc.

How is the economy of Bitcoin dictated by the establishment !? Again, your whole theory rests on the premise that Bitcoin's value comes from "bitcoin merchants", it really isn't so.

The establishment can go fuck themselves for all I care the instant they realize they have something to do about this Bitcoin thing the ground will be crumbling under their own feet.

 

[brg444]

Well off-shores are only used by influential and powerful people, and we know that everyone is equal before the law except those that are not.

I doubt if a regular person tries with an ofshore scheme he will be caught quickly and punished, but not if he is an oligarch. Bitcoin's economy is dictated by the establishment weather you like it or not, because even though the people might be anonymous, the businesses are not. It would be really hard or impossible to run a Coinbase or Bitfinex or Bitpay anonymously, and it would have 1/10 of the users it has now.

So they make the laws for the businesses, and all businesses have to comply. After bitcoin gets more "political power" that might change, but for now, we are bound to that.

But its funny that if the establishment will feel crumbing ground beneath them, they will invest in bitcoin, in fact I think they already hedge it, so that either way they will be the next elite aswell

I really doubt the elite were so dumb to not hedge themselves agains all types of risks, so they will always be the elite.

That's the point! I want influential and powerful (read: rich) people to adopt Bitcoin and we both know there is no such thing as an "establishment" stopping them. That is where Bitcoin's value will grow from, not the "regular person". I couldn't care less if "the regular" person has to jump through some hoops to buy Bitcoin. That doesn't mean Bitcoin needs "the establishement" to exist, survive and thrive.

Where did you get the idea that "Coinbase, Bitfinex or Bitpay" = Bitcoin anyway ?

[Abiky]

Ukraine will adopt Bitcoin and then people will become more interested in the coin. This will result in mainstream adoption. Can't wait for it to happen 

[MisterMoney]

Ukraine became the third country in the world after the UK and Canada, where the central bank decided to study the prospects of cryptocurrency in developing new financial technologies. This will ensure that we maintain our current leading position in the world of Bitcoin.

Prior to the meeting, the BFU prepared a lengthy presentation, which was then sent to any interested parties, explaining how Bitcoin works and prospects of its blockchain technology so that the talks would be more “constructive.”

The meeting was hailed as a success.

I would conclude that the meeting was very positive, so the future is bright for Bitcoin in Ukraine.

Source: http://cointelegraph.com/news/115203/ukraine-may-soon-legalize-bitcoin

It's good news for Bitcoin community

It is really good news. Hopeful more and more governments will legalize bitcoin.

[foreveryoung]

is nowdays bitcoin was legal on ukraine??

[crazyearner]

The more the better it gets. Once country's see it it as a positive and can improve things and how it can bring more value to that country the better it will get for bitcoin taking global adoption. Places that do not accept or allow it are places that, do not fully understand Bitcoin, or do not want to take part in something that is innovating and life changing.

Once they understand it more then am sure they will follow as others who said in past would not legalize or make legal to use bitcoin have actually make legal and put stuff in place to make sure tax is paid on it when needed and a structure to follow to make sure that a person using also understand what is needed to be paid on and when. Too many places do not understand the power of Bitcoin and how it can make a change.

Once they see this they will soon use Bitcoin in the future. If and when Ukraine do decide on making legal or proving of BTC then its another place and no doubt business will accept for payment. More places the better and gives more people the freedom to use across the world.

I will be making plans next year to book a few holidays using Bitcoin as theirs a lot more places and people accepting Bitcoin than before. sure looking forward to the future maybe one day can take my coin to Ukraine and use their too

[Possum577]

is nowdays bitcoin was legal on ukraine??

Of course, it was never illegal!

[wearehatetherules]

Its good to know at least some of the countries taking this step to make bitcoin more acceptable overall.