Ukraine: Zelensky signed the law "On virtual assets" today

[tabas]

I think thats important development to cement the Ukraine's crypto adaption, but because of the war happening now in Ukraine this law might have not been fully implemented and the potential benefit of the Ukrainian crypto users will also be affected. that's why this nonsense war must be stopped now and give the peace a chance.

Possible. But because they have to take any resource that they can which shall help their economy to go up, they have to sign any law favoring it just as this news about virtual assets/cryptos.
Although it's a good and developing news, there could be more countries that will start to see the light that there's a sense of making laws and stop being one of the reason on why their country don't thrive in cryptocurrencies.

[Oluwa-btc]

It's pretty bad to see the country of Ukraine accepted the future at this current state, things happen so we could all learn.
A great step by the Ukraine government, this is a good news to all of the countries pushing and anticipating for the adoption of Bitcoin as a legal tender.
Ukraine currently stands as the fourth county in ranking accepting Bitcoin as a legal tender.

Thanks X.

[Stalker22]

I think this is just the finalization of the previous law that was endorsed and signed by their government just a few months back.

I think that's true. The Parliament has adopted a bill on virtual assets, and the president has to sign it into a law. No doubt, the war, as well as large crypto donations to Ukraine, influenced President Zelenskyy to make this decision.

As a side note, I see an interesting development from the opposing side as well.

CoinDesk reports that Russia's Sberbank was given a license by the Bank of Russia to issue and exchange digital assets. This is intriguing since, just two months ago, the Russian central bank advocated for a full ban on trading, mining and using cryptocurrency. Russia seems to be trying to mitigate the damage caused by the SWIFT ban.

Sberbank Gets License From Russian Central Bank to Issue, Exchange Digital Assets

Ukraine currently stands as the fourth county in ranking accepting Bitcoin as a legal tender.

No. The Ukrainian government has not recognized bitcoin as legal tender. Take the time to read the article carefully.

[fzkto]

It seems that Ukraine has been drafting such a law for a long time. They just signed it in the middle of the war, as it happens, because Ukraine receives cryptocurrency donations, so a law is needed to make it all legal. As for economic recovery, it will be done by Western countries: USA and Europe, which also donate a lot of money to Ukraine. The main thing is for them to be able to resist.

[usekevin]

Amidst the war, the president of Ukraine Volodymyr Zelensky signed the law "On virtual assets", as the minister of digital transformation of Ukraine Mykhailo Fedorov reports.
According to Fedorov, crypto assets became a powerful tool of financing the Armed forces of Ukraine since the beginning of the war, and the crypto market is one of the most dynamic markets of the digital economy, which is also actively developing in Ukraine. Fedorov says the law legalizes foreign and Ukrainian crypto exchanges, allows banks to open accounts for crypto companies, allows Ukrainians to protect their investments into virtual assets and means that the state guarantees court protection of the rights related to virtual assets.

Another step towards the future, another step toward crypto adoption in Ukraine. After the war, Ukraine will need anything it can use to boost the economy, and I don't think the state plans to miss out on the crypto industry as a way of doing that.

As mentioned their was huge influence by crypto in Ukraine.Ukraine transaction was made by the cryptocurrency.This made the clear shot,crypto made a huge influence in the market now.The transaction over the war was made by the digital assets was impressive one.Since the transaction was stuck in the Ukraine.This bitcoin made a huge influence over the countries by the government.

[Taskford]

Amidst the war, the president of Ukraine Volodymyr Zelensky signed the law "On virtual assets", as the minister of digital transformation of Ukraine Mykhailo Fedorov reports.
According to Fedorov, crypto assets became a powerful tool of financing the Armed forces of Ukraine since the beginning of the war, and the crypto market is one of the most dynamic markets of the digital economy, which is also actively developing in Ukraine. Fedorov says the law legalizes foreign and Ukrainian crypto exchanges, allows banks to open accounts for crypto companies, allows Ukrainians to protect their investments into virtual assets and means that the state guarantees court protection of the rights related to virtual assets.

Another step towards the future, another step toward crypto adoption in Ukraine. After the war, Ukraine will need anything it can use to boost the economy, and I don't think the state plans to miss out on the crypto industry as a way of doing that.

As mentioned their was huge influence by crypto in Ukraine.Ukraine transaction was made by the cryptocurrency.This made the clear shot,crypto made a huge influence in the market now.The transaction over the war was made by the digital assets was impressive one.Since the transaction was stuck in the Ukraine.This bitcoin made a huge influence over the countries by the government.

It give good outlook on crypto because many people see this used as currency and it really help Ukraine to get help without stepping outside on their borders, so this is the effect right now and I believe the negative thought's by other who think about this is scam will slowly elimated. And for signing a law about it this will get a huge impressions and curiousity especially when mainstream media will create a news and publish it publicly.

[Darker45]

Not only is this law a great step toward financial progress in the country, it is also very timely as the country is facing invaders.

It is kind of unbelievable to read that no less than the country's central bank is having cryptocurrency accounts for donations. The National Bank of Ukraine is the one that will receive crypto donations from all around the world. The target right now is $200,000,000. So far, $55,478,515 has been raised. That's still around 25%. I hope there'll be more to come.^[1]

[1] https://donate.thedigital.gov.ua/

[DanWalker]

Its a bit of a pity that the law was passed in the context of the war in Ukraine, they have received large donations from the crypto community before so it makes perfect sense to accept crypto. If I remember correctly, they provided a crypto donation site where they accept up to 9 different crypto coins. They are doing everything because the war has devastated their country badly.

[noormcs5]

When Russia Invaded Ukraine, they were low on funds and with so many people fleeing the war at the end the Twitter account of the ukranian government added their bitcoin address to actually get the donations in place from everywhere else around the world. Which does make me optimistic about the crypto situation in Ukraine.

The war is not going to go for long is what I do believe. The Russians have lost 40% of their troops and have already started calling soilders from all around the world now at the end of the day when the war dies down and people finally go back to their home they would be able to make many things better for them as a whole.

They will have star link all around and at the same time most of the cryptocurrencies will see a boom in Ukraine. Mining is also beneficial as well. Therefore am extremely happy that Ukranians will be able to engage fully in the crypto economy which can also help the whole nation to grow.

I do hope that this war between the two countries comes to an end and I also hope that crypto is being adopted in both Ukraine and Russia after the war.
The world have also seen the  effects of the war in both countries economic system and how bitcoins have played a role. They have seen how Ukraine collected a lot of funds in cryptocurrency. Other causes can follow the same.

[Tahsin Kabir Kollol]

The conventional monetary system has a variety of barriers to financing. In a war-torn country, financing and its use have to face various restrictions and restrictions on the conventional currency. Although the current announcement by the Ukrainian government is only a step towards the use of cryptocurrency, Ukraine will be able to make the necessary decisions using it at a later time. Using this, if Ukraine raises money for their war and for post-war infrastructural development, then cryptocurrency will provide an added benefit. But we hope that this war will end soon and that the people of Ukraine will be able to use and invest in cryptocurrencies for their prosperity.

[NotATether]

Another step towards the future, another step toward crypto adoption in Ukraine. After the war, Ukraine will need anything it can use to boost the economy, and I don't think the state plans to miss out on the crypto industry as a way of doing that.

Honestly do you think that embracing cryptocurrencies is their priority right now?

The only reason this even is being considered is because they need everything they can get to push out Russia.

This particular law will most likely not result in increased post-war crypto adoption, especially after exchanges like CEX blocked both Russians and Ukrainians alike.

The question for you all: How many of you would really donate bitcoin to Ukraine?

A donation has to be at least a couple thousand dollars so Ukraine can purchase a reasonable number of firearms and ammo, so don't bother with turkey-murky donation amounts like $10 or $50 - they can't do anything with those.

Food and humanitarian help is being taken care of by other charities and the $50 you donate for "food" or the like will probably not make it to besieged cities in time to be useful.

[omone1]

This is what should have been done long ago, we have good crypto community in Ukraine but banks and politics won't allow government make good financial decision, when the nation became hit by cash shortage, the crypto global community came to their aid. I hope other developing nations and developed nations are not going to wait for unpleasant situation before legalizing cryptocurrency.

[teosanru]

Amidst the war, the president of Ukraine Volodymyr Zelensky signed the law "On virtual assets", as the minister of digital transformation of Ukraine Mykhailo Fedorov reports.
According to Fedorov, crypto assets became a powerful tool of financing the Armed forces of Ukraine since the beginning of the war, and the crypto market is one of the most dynamic markets of the digital economy, which is also actively developing in Ukraine. Fedorov says the law legalizes foreign and Ukrainian crypto exchanges, allows banks to open accounts for crypto companies, allows Ukrainians to protect their investments into virtual assets and means that the state guarantees court protection of the rights related to virtual assets.

Another step towards the future, another step toward crypto adoption in Ukraine. After the war, Ukraine will need anything it can use to boost the economy, and I don't think the state plans to miss out on the crypto industry as a way of doing that.

Excellent step, especially amidst this war scenario, Cryptocurrencies become even more important as there is no way that you can trust fiat currencies, you see how Russia is getting sanctions from all throughout the world, what if Ukraine retaliates and gets sanctions too from some countries, in such scenario it's better to put money into cryptos, very forward looking decision by Zelensky

[Vaskiy]

Ukrainian government have legalized crypto amidst the attack by Russian military. By the time some private banks have restricted people from buying bitcoin. Privatbank, the largest commercial bank in Ukraine have have restricted people from buying bitcoin with the national currency. The spokesperson have mentioned that the restriction will apply during the current period of martial law in the country. This restriction is being reported by the Binance Ukraine division.

The government is focused on making things more progressive with relation to the cryptomarket. By the time banks restricting usage of cryptocurrencies is not a good sign. Does this considered a big issue.

Ukraine’s largest savings bank halts Bitcoin buys with hryvnia: Report

[cheezcarls]

Zelensky is so desperate. He wants to do whatever it takes to make everything possible such as funding for weapons to fight back against the Russian invaders and another source for rebuilding the economy when the war finally ends and deescalates.

Although private banks have restricted cryptocurrencies, I think the president will be giving orders on all banks to accept cryptocurrencies and not restricting them despite that this is a “greyish” digital asset. Let’s just hope that one day there will be peace between the two countries and not going for a third World War if they’re gonna do an unprovoked attack on a NATO territory.

[kryptqnick]

The question for you all: How many of you would really donate bitcoin to Ukraine?

Personally I don't support any government and we can't deny that the government of Ukraine was also corrupt to a certain degree. There are 2 strong camps in Ukraine. One supports the West and the EU, while the other Russia. For decades the country was ruled by a Russian puppet president, but that doesn't mean the current government is completely independent.
Therefore, I wouldn't give money to the government of any country, as I don't support their actions of taxing citizens and then sacrificing them like pawns in a game when the need comes.

I would donate to the red cross or buy products the people need most, but I wouldn't give the money to the government so they can do with it as they please.

If you don't want to donate to the government, you can donate to foundations. If you support Ukrainian army, you can donate to Come back alive, they have an official crypto wallet. As for Ukrainian sentiments, only 22% used to support Russia a year ago, and anti-Russia sentiment obviously increased a lot because of the invasion. So now, 80% overall in Ukraine are ready to fight for Ukraine, and even in the Eastern (the most Russia-friendly) part of the country, 59% are ready to fight for Ukraine against Russia. This doesn't account for Crimea and occupied areas of Donbas, but it accounts for everything else. So there is no strong camp that supports Russia, not any more. Those who support Russia are very clearly a minority.

[quynhtranghn]

With the world economic situation rising inflation. War broke out and the Covid 19 epidemic has greatly affected most countries. My view is that this year there will be more countries accepting Bitcoin like Elsalvado or Ukraine. And BTC will really become electronic gold in the near future

[tvplus006]

...If I remember correctly, they provided a crypto donation site where they accept up to 9 different crypto coins...

Yes, indeed, the official website of Aid For Ukraine has been created https://donate.thedigital.gov.ua, which presents the possibility of donating 13 different crypto coins. And I am sure that this number of coins available for donation will increase in the near future.

[pokeronlinestatus]

We have to believe that all nations will eventually see the benefit of crypto one day and they will get these type of supportive laws in place. It doesn't mean that we will have to wait decades for it, it is already starting and there are some who already do it.

All we have to do is wait a big longer, when big nations do not care about crypto, they do not make good enough laws about it neither, but when smaller ones grow to be bigger thanks to crypto, bigger nations like China and the USA will have to put supportive laws as well otherwise they will be left behind. They need it to keep their power over the world and keep being world powers.

[24Kt]

We have to believe that all nations will eventually see the benefit of crypto one day and they will get these type of supportive laws in place. It doesn't mean that we will have to wait decades for it, it is already starting and there are some who already do it.

All we have to do is wait a big longer, when big nations do not care about crypto, they do not make good enough laws about it neither, but when smaller ones grow to be bigger thanks to crypto, bigger nations like China and the USA will have to put supportive laws as well otherwise they will be left behind. They need it to keep their power over the world and keep being world powers.

They have seen the benefits of crypto during this war. When all the establishments are being destroyed and torn down, they have no financial institutions to go to. And with the huge amount in crypto that they received during this war situation, they have seen the power of crypto in the middle of this crisis. So there's no doubt they will legalize the crypto-related businesses in their country. This will also help their people transfer their money into crypto while the situation is still vulnerable. Though, people should know the possible factors involve like volatility, which is a long running issue in crypto. But for now, making transactions during this war is easier in crypto rather than via the traditional banking system.