Ukraine Just Legalized Bitcoin

[molsewid]

Seems to be rival competition. Since most of the countries are now starting to adopt the crypto currencies some way or other, its nothing new for Ukraine. Idk, with the time we are going to follow numerous such news that X country passed legal tender about bitcoin and so on. With the time and most preferably due to the pandemic, situation of financial burden is now lurking head in different countries.

The indirect effect is from crypto currency market. I mean, since many peeps are investing into crypto no matter what, government is loosing the taxes from it. Thus, they left with no choice but to enter the market with legalisation and try to get some profits out of it.

It smells something fishy of having both countries started adopting cryptocurrency, actually, this somehow for me I think is kind of positive feedback to bitcoin or in cryptocurrency platform in general but yeah somethings fishy about it. I just fo hope that the tension between two countries will not going to affect the crypto platfom because if they are only started adopting cryptocurrency especially bitcoin for some of their personal agenda or propaganda I'm afraid that it could might affect the platform.

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[Rockstarguy]

Bitcoin is moving in a faster dimension,  the last time I checked the news was Russia accepting bitcoin as currency and now same good news from Ukraine,  some government have started understanding how bitcoin is important and they do not have any choice than to accept it. Many more countries will take this same bold step to accept bitcoin .

[Obito]

First Russia adopted crypto and announced to make it legal and now the Ukraine did the same. Both of these countries are at the verge of war against each other.
Though it makes no sense but still i wonder if the tense situation in both countries is the triggering point for the adoption of bitcoin?

I don't think that it's the trigger, that's just trivial matter compared to the real reason why they're on a tension right now. I think that Ukraine just wants to embrace crypto adoption and they see it as a means to improve their economy and they're going to need it right now with Russia showing force and bullying the country.

[Ziskinberg]

Ukraine's parliament has supposed a new law that legalises cryptocurrency. The bill was adopted in a near-unanimous vote on Wednesday and needed to be signed by President of Ukraine 'Volodymyr Zelensky'. From today, trading or vendoring in crypto in Ukraine has existed in a legal grey area. Local peoples are now permitted to buy, sell and exchange cryptocurrencies, but law enforcement will often see companies and exchanges dealing in crypto.
Ukraine's crypto law does not promote bitcoin as a form of payment or legal tender or does not put Bitcoin on an equal floor with the hryvnia (Ukraine's national currency).

Sources: https://www.thestreet.com/investing/bitcoin-goes-to-war-ukraine-legalizes-cryptos-as-russia-pressures-build

They aren't promoting Bitcoin but they are legalizing Bitcoin on the other side. If that tends not to promote then this makes no sense.
Or this seems to be a conflict of interest that triggers Ukraine to follow Russia legalizing Bitcoin. I hope not but to consider this as a serious deal and really accepting Bitcoin in their country. While seeing this, the Ukrainian government is in the way of helping their people to live comfortably and more advanced.

[suzanne5223]

It doesn't change anything for the citizens since it wasn't illegal in the first place. As mentioned in the article, people are already using it. Do I need to remind you that we don't need any approval from any government to use Bitcoin? Who cares if Ukraine decided to make it illegal? Surely not the Ukrainians themselves.

It only helps companies to make sure that they are operating in a recognized and supervised environment and that they won't get a surprise a day with someone telling them "you have to close the doors tomorrow".

Not really a new per se, or I mean not an important one. There are like 300 countries worldwide so expect to see a few hundred appearing from time to time.

I too think there is no relation between Russia VS Ukraine. Making a currency "legal" doesn't mean it's a currency "official" or that could be used by the government

Making it legal doesn't mean that government is moving towards decentralized crypto wallets for sending and receiving the money.

From the article shared by OP, "The National Commission for Securities and the Stock Market, as well as the National Bank, are in charge of regulating the virtual asset market". They are regulating the crypto sector so that government has insight of whats going on insight.   

Don't tell me you believe the government will support the decentralization of Cryptocurrency whenever you hear the legalization of Crypto or when every crypto enthusiast hoping for the day that crypto will be the mainstream of payment? When this was the reason why it take so long before we can see some government that make the decision.
Let's face this fact and if there's nothing like this rule, the institutional investors may not have invested in Bitcoin.

[freedomgo]

Ukraine's parliament has supposed a new law that legalises cryptocurrency. The bill was adopted in a near-unanimous vote on Wednesday and needed to be signed by President of Ukraine 'Volodymyr Zelensky'. From today, trading or vendoring in crypto in Ukraine has existed in a legal grey area. Local peoples are now permitted to buy, sell and exchange cryptocurrencies, but law enforcement will often see companies and exchanges dealing in crypto.
Ukraine's crypto law does not promote bitcoin as a form of payment or legal tender or does not put Bitcoin on an equal floor with the hryvnia (Ukraine's national currency).

Sources: https://www.thestreet.com/investing/bitcoin-goes-to-war-ukraine-legalizes-cryptos-as-russia-pressures-build

They aren't promoting Bitcoin but they are legalizing Bitcoin on the other side. If that tends not to promote then this makes no sense.
Or this seems to be a conflict of interest that triggers Ukraine to follow Russia legalizing Bitcoin. I hope not but to consider this as a serious deal and really accepting Bitcoin in their country. While seeing this, the Ukrainian government is in the way of helping their people to live comfortably and more advanced.

The legalization of bitcoin and crypto in Ukraine maybe has something to do with Russia but i believe their focus is on attracting foreign investors through crypto that will help to regain their down economy. And i guess they have been eyeing El Salvador for a while that made them decide to accept crypto too and legalize bitcoin mining and trading, but definitely they are not making bitcoin as their official currency. It may take a lot of realizations before they will consider bitcoin as their new legal tender.

[dunfida]

Ukraine's parliament has supposed a new law that legalises cryptocurrency. The bill was adopted in a near-unanimous vote on Wednesday and needed to be signed by President of Ukraine 'Volodymyr Zelensky'. From today, trading or vendoring in crypto in Ukraine has existed in a legal grey area. Local peoples are now permitted to buy, sell and exchange cryptocurrencies, but law enforcement will often see companies and exchanges dealing in crypto.
Ukraine's crypto law does not promote bitcoin as a form of payment or legal tender or does not put Bitcoin on an equal floor with the hryvnia (Ukraine's national currency).

Sources: https://www.thestreet.com/investing/bitcoin-goes-to-war-ukraine-legalizes-cryptos-as-russia-pressures-build

They aren't promoting Bitcoin but they are legalizing Bitcoin on the other side. If that tends not to promote then this makes no sense.
Or this seems to be a conflict of interest that triggers Ukraine to follow Russia legalizing Bitcoin. I hope not but to consider this as a serious deal and really accepting Bitcoin in their country. While seeing this, the Ukrainian government is in the way of helping their people to live comfortably and more advanced.

The legalization of bitcoin and crypto in Ukraine maybe has something to do with Russia but i believe their focus is on attracting foreign investors through crypto that will help to regain their down economy. And i guess they have been eyeing El Salvador for a while that made them decide to accept crypto too and legalize bitcoin mining and trading, but definitely they are not making bitcoin as their official currency. It may take a lot of realizations before they will consider bitcoin as their new legal tender.

Not only Russia eyeing on out what El Salvador did but for sure other countries too which they are still observing on what would gonna happen on a specific period of time to El Salvador which do make out bitcoin as their
legal tender.Of course each country does have their own specific goals and intents of its governing bodies and as for the sake of economic progress and development then it isnt surprising that they would come up
into some ideas neither it is really that worth to do so or needing to go into some extent but im aint surprised about testing phase about legalization but in overall then this still a good news.

[BIT-BENDER]

Good news for the people of Ukraine, Bitcoin has become a value to the world, and it's starting to get generally accepted by counties of the world, although Ukraine are having a terrible rift with Russia, I think be this news has brought some joy to millions of Ukrainian round the world, and one thing I hope is that countries like mine can emulate such stands from Ukraine.

[Ziskinberg]

Ukraine's parliament has supposed a new law that legalises cryptocurrency. The bill was adopted in a near-unanimous vote on Wednesday and needed to be signed by President of Ukraine 'Volodymyr Zelensky'. From today, trading or vendoring in crypto in Ukraine has existed in a legal grey area. Local peoples are now permitted to buy, sell and exchange cryptocurrencies, but law enforcement will often see companies and exchanges dealing in crypto.
Ukraine's crypto law does not promote bitcoin as a form of payment or legal tender or does not put Bitcoin on an equal floor with the hryvnia (Ukraine's national currency).

Sources: https://www.thestreet.com/investing/bitcoin-goes-to-war-ukraine-legalizes-cryptos-as-russia-pressures-build

They aren't promoting Bitcoin but they are legalizing Bitcoin on the other side. If that tends not to promote then this makes no sense.
Or this seems to be a conflict of interest that triggers Ukraine to follow Russia legalizing Bitcoin. I hope not but to consider this as a serious deal and really accepting Bitcoin in their country. While seeing this, the Ukrainian government is in the way of helping their people to live comfortably and more advanced.

The legalization of bitcoin and crypto in Ukraine maybe has something to do with Russia but i believe their focus is on attracting foreign investors through crypto that will help to regain their down economy. And i guess they have been eyeing El Salvador for a while that made them decide to accept crypto too and legalize bitcoin mining and trading, but definitely they are not making bitcoin as their official currency. It may take a lot of realizations before they will consider bitcoin as their new legal tender.

Of course, that will not happen that bitcoin will become their main currency as they cannot control bitcoin which is a decentralized asset, the volatility will kill the purpose of making it the main currency only. This is a good move for them, true it will attract investors and at the same time, it gives their people an option to help their economy in case hyper inflation will hit them.

[Ozero]

Ukraine's parliament has supposed a new law that legalises cryptocurrency. The bill was adopted in a near-unanimous vote on Wednesday and needed to be signed by President of Ukraine 'Volodymyr Zelensky'. From today, trading or vendoring in crypto in Ukraine has existed in a legal grey area. Local peoples are now permitted to buy, sell and exchange cryptocurrencies, but law enforcement will often see companies and exchanges dealing in crypto.
Ukraine's crypto law does not promote bitcoin as a form of payment or legal tender or does not put Bitcoin on an equal floor with the hryvnia (Ukraine's national currency).

Sources: https://www.thestreet.com/investing/bitcoin-goes-to-war-ukraine-legalizes-cryptos-as-russia-pressures-build

They aren't promoting Bitcoin but they are legalizing Bitcoin on the other side. If that tends not to promote then this makes no sense.
Or this seems to be a conflict of interest that triggers Ukraine to follow Russia legalizing Bitcoin. I hope not but to consider this as a serious deal and really accepting Bitcoin in their country. While seeing this, the Ukrainian government is in the way of helping their people to live comfortably and more advanced.

It would be wrong to say that Ukraine follows Russia in the legalization of cryptocurrency. Russia, on the contrary, is very behind Ukraine in this respect. All these years, the cryptocurrency was freely circulating in Ukraine and was used as a means of payment. At the same time, the government was very positive about cryptocurrency, did not restrict its circulation, and even introduced bills to the Ukrainian parliament itself, where it provided for a zero tax or a symbolic tax of five percent.
In Russia, disputes over a possible complete ban on the circulation of cryptocurrencies still do not subside, and the law already adopted does not allow the use of cryptocurrencies as a means of payment.

[Abiky]

Seems to be rival competition. Since most of the countries are now starting to adopt the crypto currencies some way or other, its nothing new for Ukraine. Idk, with the time we are going to follow numerous such news that X country passed legal tender about bitcoin and so on. With the time and most preferably due to the pandemic, situation of financial burden is now lurking head in different countries.

The indirect effect is from crypto currency market. I mean, since many peeps are investing into crypto no matter what, government is loosing the taxes from it. Thus, they left with no choice but to enter the market with legalisation and try to get some profits out of it.

It's all about taxation. Ukraine doesn't want to be left out of the game, especially when most countries are legalizing Bitcoin. As long as there's money to be made, nothing else matters. We're going to have to see how this will play out in the long run, especially when Ukraine is on the brink of a Russian invasion. As much as I don't want Ukraine to lose its sovereignty, an invasion will push back everything the country achieved on its own if it loses the war. Russia has legalized (or is about to legalize) Bitcoin, so it shouldn't make any difference whenever Ukraine is invaded or not.

Adoption-wise, I see this move (the legalization of Bitcoin) as one step closer towards "hyperbitconization". If this keeps up, the world will end up using Bitcoin ditching Fiat for good. It sounds crazy, but anything can happen in the uncertain times we're living in. Just my thoughts

[kryptqnick]

I'm returning to the topic because it didn't seem like a big enough thing to create a new one, but also something I wanted to mention on the forum. With the threat of Russian invasion increasing, many Ukrainians are now inclined to donate money for the army through charities (they're reaching record high numbers of donations lately), and my spouse and I decided to do the same. We chose the fund, which is the biggest and most reputable one for this purpose in Ukraine, and I was pleasantly surprised to see that it accepts donations in Bitcoin (directly, to a Bitcoin address, not via some middlemen)! So given that this option was available, we decided to go for it. They have 5.7 BTC currently in their wallet, and only yesterday it was a little over 1 BTC. I'm not encouraging you to donate, it's always a personal choice. I just wanted to share this info as one of the proofs that Bitcoin is quite popular in Ukraine, with or without the law.

[willoweb]

Any country that legalizes bitcoin in the context of legalization in its fiscal system, where the state legally fixes a certain percentage for the production or resale of cryptocurrency. I believe that Ukraine will find within itself the intellectual potential to create a cluster in the economy focused only on cryptocurrency and projects related to it.

[poldanmig]

Thanks and welcome to Ukraine. We are very happy and excited that they have declared this bitcoin legal in their country.However, in a country where bitcoin trading is in place, other currencies will soon be introduced. If all countries take such a step, it will bring huge good news for this cryptocurrency.

Ukraine has now taken an open attitude in accepting crypto in their country, although it is still only limited to the use of investment but at least ukraine has clear rules for crypto trading in the country, I am sure that the existence of bitcoin legality in ukraine will of course provide a sense of security for investors and traders in ukraine, besides that with the legality of bitcoin it may provide investment opportunities for the ukraine community so that it will improve their economic standard of life, hopefully in the future other countries will follow the steps taken by ukraine today.

[Mr.right85]

First Russia adopted crypto and announced to make it legal and now the Ukraine did the same. Both of these countries are at the verge of war against each other.
Though it makes no sense but still i wonder if the tense situation in both countries is the triggering point for the adoption of bitcoin?

I doubt that us hardly the case between these two great nations. If we look at it subjectively, legalising bitcoin within individual nations has got no antagonistic element to it. They've sort out a means to better there nations by ensuring they've got some inflow of money from their citizens outside the country and its a good thing.

I commend both nations for taking this step and I'm sure other nations are looking towards following the steps of these nations for a bitcoin adoption. Even though, its not as a legal tender.

[Finestream]

First Russia adopted crypto and announced to make it legal and now the Ukraine did the same. Both of these countries are at the verge of war against each other.
Though it makes no sense but still i wonder if the tense situation in both countries is the triggering point for the adoption of bitcoin?

I doubt that us hardly the case between these two great nations. If we look at it subjectively, legalising bitcoin within individual nations has got no antagonistic element to it. They've sort out a means to better there nations by ensuring they've got some inflow of money from their citizens outside the country and its a good thing.

I commend both nations for taking this step and I'm sure other nations are looking towards following the steps of these nations for a bitcoin adoption. Even though, its not as a legal tender.

I think this is just the first step for Ukraine to legalize bitcoin knowing it will also add profits to their country as there are a lot of people who are secretly trading and investing since their own country has not legalized it yet. But now that Ukraine has opened a lot of opportunities for traders, investors and miners, then Ukraine could be an ideal place for crypto enthusiasts. And when everything's went good, the next step will be adopting bitcoin as a legal tender hopefully. The tension between Russia and Ukraine could mean a blessing in disguise for bitcoin adoption.

[AmoreJaz]

First Russia adopted crypto and announced to make it legal and now the Ukraine did the same. Both of these countries are at the verge of war against each other.
Though it makes no sense but still i wonder if the tense situation in both countries is the triggering point for the adoption of bitcoin?

I doubt that us hardly the case between these two great nations. If we look at it subjectively, legalising bitcoin within individual nations has got no antagonistic element to it. They've sort out a means to better there nations by ensuring they've got some inflow of money from their citizens outside the country and its a good thing.

I commend both nations for taking this step and I'm sure other nations are looking towards following the steps of these nations for a bitcoin adoption. Even though, its not as a legal tender.

I think this is just the first step for Ukraine to legalize bitcoin knowing it will also add profits to their country as there are a lot of people who are secretly trading and investing since their own country has not legalized it yet. But now that Ukraine has opened a lot of opportunities for traders, investors and miners, then Ukraine could be an ideal place for crypto enthusiasts. And when everything's went good, the next step will be adopting bitcoin as a legal tender hopefully. The tension between Russia and Ukraine could mean a blessing in disguise for bitcoin adoption.

it seems so. this impending war may push thru crypto adoption as the government as well as its people are finding ways on how to secure assets and find all the possible resources of their funds.
but in any case this war will not happen, that's fine. russia and ukraine already change their stance towards crypto. they are heading to regulation which means, more people are not going to be scared of touching crypto. and also, additional income to their financial system.

[aruldaroy]

First Russia adopted crypto and announced to make it legal and now the Ukraine did the same. Both of these countries are at the verge of war against each other.
Though it makes no sense but still i wonder if the tense situation in both countries is the triggering point for the adoption of bitcoin?

I doubt that us hardly the case between these two great nations. If we look at it subjectively, legalising bitcoin within individual nations has got no antagonistic element to it. They've sort out a means to better there nations by ensuring they've got some inflow of money from their citizens outside the country and its a good thing.

I commend both nations for taking this step and I'm sure other nations are looking towards following the steps of these nations for a bitcoin adoption. Even though, its not as a legal tender.

Even though there are doubts, maybe this is one way and a good decision between the two countries.
Even so, bitcoin has now made a little more progress because the war between the two countries has ended well.
I'm sure once this situation improves, bitcoin will surely shed some light for all of us.
The open attitude that Ukraine has taken to crypto has made big investors even more daring to buy bitcoins back.

[yazher]

First Russia adopted crypto and announced to make it legal and now the Ukraine did the same. Both of these countries are at the verge of war against each other.
Though it makes no sense but still i wonder if the tense situation in both countries is the triggering point for the adoption of bitcoin?

If a total war broke out between these two countries then the best thing to do is convert your assets into bitcoins and find a way to get out from those countries to save yourself from a senseless war which you don't even know the reason for. Many people are worried about it since only the civilians will suffer and those in the authority will only seat on their couch and execute the order to their military. Now is the time to do it because when the war will broke out, you won' have any convenience withdrawing your funds from the banks.

[Kasabus]

First Russia adopted crypto and announced to make it legal and now the Ukraine did the same. Both of these countries are at the verge of war against each other.
Though it makes no sense but still i wonder if the tense situation in both countries is the triggering point for the adoption of bitcoin?

If a total war broke out between these two countries then the best thing to do is convert your assets into bitcoins and find a way to get out from those countries to save yourself from a senseless war which you don't even know the reason for. Many people are worried about it since only the civilians will suffer and those in the authority will only seat on their couch and execute the order to their military. Now is the time to do it because when the war will broke out, you won' have any convenience withdrawing your funds from the banks.

I think adopting a bill on legalizing bitcoin is just right on time, and this may not be made possible if there was never a tension between Russia and Ukraine, right?  But as far as i remember, bitcoin has been already legal in its previous year, but due to lack of existing laws, crypto has been in a grey area. But now, as the country has established clear policies about crypto, then those owners of virtual assets will no longer worry about. After all, the law will protect the owners of virtual assets and exchange platforms from fraud, that's the purpose of adopting a law on bitcoin. Source: https://www.euronews.com/next/2021/09/09/ukraine-becomes-the-latest-country-to-legalise-bitcoin-and-cryptocurrencies