Good News: Ukraine has legalized Bitcoin

[Sterbens]

By law amendments to the BILL drawn up and passed by the Ukrainian parliament. This was conveyed by Deputy Prime Minister of Ukraine and Minister of Digital Transformation of Ukraine, Mykhailo Fedorov
This is just a step to legalize Virtual assets. Now in the position of Bitcoin in Ukraine, it is included in the 2nd type of asset class after property. With the reason that property has material properties, while making Bitcoin and Ethereum in the second position because by their nature they do not have physical material.

We won't really think of this as an issue of concern. Because I also can not fully guarantee. What I convey from various sources or articles (I need a google translate translation to understand it). That way basically a 20% chance it could be in the future that Ukraine does not rule out the possibility of being El Salvador. But there is something we need to note here, that as long as Bitcoin is still in the category of the 2nd Virtual asset type, it means that Bitcoin is only legal; to be exchanged or even as an investment asset.

[pealr12]

....it means that Bitcoin is only legal; to be exchanged or even as an investment set.

This is good enough news, compare to other countries who openly put a ban to the their citizens not to trade btc I think this is very positive news, I'd many countries can put btc in "2nd virtual asset type"  with the legal freedom to trade everyone will be pleased with such news, I see this news as the beginning of good things ahead for Ukraine.

[Amejoaquim]

Yeah. its true. Yesterday, the Ukrainian Parliament passed a law that legalizes and regulates bitcoin in the country. The bill drafted in 2020 passed with a total of 276 lawmakers supporting the law, and only six against it. This bill gives the citizens “permission” to own and trade bitcoin and other cryptocurrencies on exchanges. Btw, Ukraine GDP $153.8 billion USD vs El slavador is only $27 billion

We are growing fast!

[Kong Hey Pakboy]

if indeed ukraine has legalized bitcoin, you can say this will be good news, at least their citizens can freely adopt bitcoin, and can invest in bitcoin, without any more arrests of citizens who play in the crypto world, hopefully this news is true and can be published believe..

It wasn't illegal in the first place so it's not really that significant, they just made bitcoin regulated there and at the same time protect their citizens and have the crypto community in there have some representation.

[BOAEDAN]

I also agree that this is very good news, because ukraine has legalized bitcoin,, not like other countries that are still against bitcoin, even in my own country it is very difficult to adopt bitcoin, hopefully with ukraine legalizing bitcoin, other countries will follow suit their steps, now we are just waiting, whether their economy will improve, after they legalize bitcoin..

[mrongoz_imut]

Ukraine will be the fifth country to set some ground rules regarding cryptocurrency transactions. The Ukrainian parliament adopted a law that legalizes and regulates cryptocurrencies. The law has actually been drafted since 2020 and is on its way to the President's desk, cryptocurrencies in Ukraine are currently in a gray position. Locals are allowed to buy and exchange virtual currency. However, companies and exchanges dealing with cryptocurrencies are often closely watched by law enforcement.

[Nunoluck]

Atleast Ukraine didn't ban bitcoin. For me it is doesn't matter if bitcoin is recognized by country or not as long as the country didn't ban Bitcoin then it is enough for me. In my country bitcoin is not legal or illegal, the government just will not get involved in any problems related to it. The citizens invest with their own risk, government don't give any protection regarding this. It still good because cryptocurrency related business still keep growing and don't have any problems as long as the company don't break the existing government rules such as do something that originally illegal. But if Ukraine go to the next step which is regulate the use of bitcoin and treat it as legal tender then I think we can expect more countries will follow Ukraine move.

[davis196]

Yeah. its true. Yesterday, the Ukrainian Parliament passed a law that legalizes and regulates bitcoin in the country. The bill drafted in 2020 passed with a total of 276 lawmakers supporting the law, and only six against it. This bill gives the citizens “permission” to own and trade bitcoin and other cryptocurrencies on exchanges. Btw, Ukraine GDP $153.8 billion USD vs El slavador is only $27 billion

We are growing fast!

The Ukrainian GDP doesn't matter and the El Salvadorian GDP doesn't matter as well.
The good news is that Bitcoin gets legalized in many countries,as a legal tender or as an investment asset.
That doesn't mean that the majority of the Ukrainians and El Salvadorians will start using Bitcoin immediately.
There's still a long way to for us achieve mass BTC adoption.
It's funny how the government "gives permission" to it's citizens to own something.Bitcoin was already a thing in Ukraine,before the government's decision to "give permission" to it's citizens to own Bitcoins.

[slaman29]

Sorry to break the news to you friend, but Ukraine had never made Bitcoin illegal. Even before this law had passed, no one was going to get caught or prosecuted and sent to jail or fined for using/trading Bitcoin.

The only thing this law does is regulate crypto, which can be good for business, but the restrictions also limit the use of it for other than purposes defined.

at least there is a clear development in the ukraine state after the regulation is passed. thus the use of bitcoin is not an illegal activity, so that the people there can carry out activities according to predetermined limits. on the other hand, this hopefully will be an example for other countries to make clearer regulations so that bitcoin will be increasingly adopted mass

Yes, of course, clarity is always a good thing, but any lawyer or legal professional usually can tell you that a lack of clarity actually helps you on the defence. Which means, if there is no law saying that what you're doing about crypto is illegal, then by definition it is legal.

Which is why all the India drama about banks closing crypto accounts was finally overturned in the Supreme Court:)

[Dr.Osh]

Another country allowing Bitcoin! That's a great milestone for everyone. Imagine applying it since 2020 and now it was approved and I think this is just the first step towards global adaptation and acceptance of Bitcoin as a currency. I think having Bitcoin is the best way to take advantage of your future.

It was considered in the gray area for a long time and it seems this legalization is better, right?

Found this article: https://www.cnbc.com/2021/09/08/ukraine-legalizes-bitcoin-and-cryptocurrencies.html

from what I read from the article information above, the good news is

• El Salvador was the first country to accept bitcoin as legal tender. this is of course good news for crypto users, especially bitcoin, and most likely the development of this technology will not have problems in the country.
• Ukraine also recognizes and accepts bitcoin, in fact they started developing regulations for it. it's just that unlike El Salvador, the Ukrainian crypto bill does not facilitate bitcoin as a form of payment. but still, it's great news
• on the other hand, Cuba also passed a law regarding cryptocurrencies, and began to recognize cryptocurrencies on the grounds that it was of socio-economic importance
• and lastly, it seems like Panama is also drafting regulations regarding cryptocurrencies. hopefully these things will be more positive in the future.

[ropyu1978]

if this can be realized, maybe this will be a good first step for Ukrainian citizens, Ukraine will be the next country to legalize the cryptocurrency Bitcoin Cs. The Ukrainian parliament has just signed the Virtual Assets Law, which contains regulations regarding the legalization of crypto assets. Later, if the law is actually signed by President Volodymyr Zelensky, the government will legally guarantee protection for owners of virtual assets and exchange platforms from fraud.

[B-Bit]

This is indeed good news.
Another country passed Bitcoin, which is expected.
I believe that many countries will gradually set Bitcoin as legal currency.
Mining is available in more and more places, and miners don’t have to go to other countries for mining.
Convenient for everyone.

[JohnBitCo]

Ukraine has legalized #Bitcoin. Really A another Good news for all the crypto communities.

Despite these good news about bitcoin being legalized , we see no positive momentum in bitcoin prices. Even the quantity of bitcoin is less on exchanges yet it seems that bitcoin price is mostly control by the whales which includes exchanges as well.

[Shasha80]

This is good news, ukraine is a country with a large crypto user, it is natural that the government legalizes bitcoin and of course this will have a positive impact on Ukraine and all bitcoin owners, the price will certainly skyrocket because almost 50 million ukraine residents will become active bitcoin users.

I'm always happy to hear positive news that says there are countries that legalize Bitcoin. This means that Bitcoin is increasingly accepted by many
people and will continue to grow even more rapidly, I am sure that the government supports Bitcoin. This will speed up the process of Bitcoin adoption
in Ukraine, this will also have a positive effect on the development of Bitcoin prices. Hopefully there will be more active Bitcoin users in Ukraine,
if that happens it should help push the Bitcoin price even higher. I can't wait for other countries to legalize Bitcoin, because what Ukraine does is
very likely to be followed by other countries around Ukraine.

[rodskee]

Ukraine has legalized #Bitcoin. Really A another Good news for all the crypto communities.



What do you think some more countries will initiate for the same?

At least this is good news for ukraine friends, good development for bitcoin in your country. it's enough not to be banned, maybe it's better than a country that is absolutely not allowed to transact anything with bitcoin and can't exchange coins at local merchants in their own country. It deserves appreciation for this. Hopefully bitcoin will be more advanced later.

and the most appreciative on this is us, this community in which seeking for more and more adoption or unlocking bitcoin.
Ukraine might not be like what El Salvador does but atleast their people is seeing bitcoin in good way and not something that must be afraid of.
i always fond when hearing same news though it is frustrating because the title says different in what Ukraine really stands for crypto specially bitcoin.
but who knows that some day or near future that they will take an action towards using bitcoin as their legal tender as well.

[livingfree]

Well, in overall, this is good news.

This gives the confidence to the people there that there's nothing to worry about bitcoin transactions and if it's announced by the government that they're legalizing bitcoin and everything that's related to it.

[Wong Gendheng]

Of course this is good news, with a current population of more than 50 million then ukraine will have a big impact on the market, of course there are many benefits to get from ukraine because crypto transactions continue to increase and become an opportunity for tax revenue.

[NelfiNovita]

yes this is good news for the bitcoin community, but on the other hand I heard that bitcoin can not be used as legal tender in Ukraine. the existence of bitcoin in Ukraine may be the same as my country, which was only ordered by the government to keep up with the times so as not to be left behind by other countries, but Bitcoin is only a place to earn additional income and not as a legal tender in my country.

[Tumanggor]

Ukraine has legalized #Bitcoin. Really A another Good news for all the crypto communities.

~

What do you think some more countries will initiate for the same?

there is nothing happier than reading news about a country that legalized Bitcoin
other countries will definitely start to re-discuss the rules about crypto in their country

the bitcoin trend is getting better day by day and the community is getting stronger

[5thFear]

Good for them. Btw they didn't helped bitcoin but their own country and people. And this is what i have been emphasizing on, that its not for cryptos interest but the people. Bitcoin won't loose its worth, no matter if a country accepts it or not but the people are going to miss out its benefits if their respective govt don't accept it. They will learn but it'll take some time.