Ukraine has legalized the cryptosector

[tvplus006]

Despite the ongoing war, Ukraine continues its movement towards a civilized cryptocurrency market. On March 16, president of Ukraine Volodymyr Zelensky signed the law of Ukraine "on virtual assets", according to the government portal of Ukraine https://www.kmu.gov.ua/news/ukrayina-legalizuvala-kriptosektor-prezident-pidpisav-profilnij-zakon

"This law creates conditions for launching a legal virtual asset market in Ukraine. The new market will be regulated by the National Securities and stock market Commission".

As the Minister of Digital Transformation of Ukraine Mikhail Fedorov wrote in the Telegram channel https://t.me/zedigital/1368 , this law will allow:
- foreign and Ukrainian crypto exchanges will operate legally;
- banks will open accounts for crypto companies;
- Ukrainians will be able to protect their investments in virtual assets.
- the state will guarantee judicial protection of rights to virtual assets



For those who are not indifferent, I leave a link to the official website of Aid For Ukraine https://donate.thedigital.gov.ua

[1714771926]

1714771926

[1714771926]

1714771926

[1714771926]

1714771926

[NeuroticFish]

Just a heads up, I know it's different board and maybe different aim, still, it's also being discussed here: https://bitcointalk.org/index.php?topic=5390003.msg59545654#msg59545654

[Gozie51]

Zelensky is proactive for his people during this war time. Today he addressed the Congress and seeking for help from American, after the speech Biden announced $800 million in military aid for Ukraine. He is taking steps to get help and legalizing the cryptosector is such an open invitation for more help. This move will also get Ukraine back on feet after the war.

[bitbollo]

some months ago I was in ukraine and kiev for my jobs ... and what struck me was seeing everywhere the currency exchange exhibiting the B of bitcoin in plain sight!
this country is already directed towards the adoption of cryptocurrencies at a popular level .... much more than many Western countries... And it is an obligatory choice for those who know this alternative since the devaluation of their national currency

[Argoo]

It should be added to this good news that the signed law was prepared several years ago, and only on September 8, 2021, the Verkhovna Rada of Ukraine adopted this bill No. 3637 in the second reading.
However, the President did not agree with the definition of the cryptocurrency regulator and returned it for revision. Taking into account the presidential amendments, the law on virtual assets, which began to attribute this market to the regulation of the National Securities Commission and the National Bank of Ukraine, was re-adopted on February 17, 2022.

At the same time, the Minister of Digital Transformation indicated that the volume of transactions in Ukraine with virtual assets is about $150-200 million per day, and the capitalization of virtual assets is more than $2 billion.

The cryptocurrency market in Ukraine has worked before, as the government has always favored the cryptocurrency. But indeed, after the war began, crypto assets became a powerful tool for attracting additional funding to protect against Russian aggression. During the three weeks of the war, the crypto fund of Ukraine raised more than $54 million in crypto assets for defense.

[tvplus006]

...The cryptocurrency market in Ukraine has worked before, as the government has always favored the cryptocurrency. But indeed, after the war began, crypto assets became a powerful tool for attracting additional funding to protect against Russian aggression. During the three weeks of the war, the crypto fund of Ukraine raised more than $54 million in crypto assets for defense.

Regardless of whether this law was previously adopted or not, this did not prevent the official collection of donat in cryptocurrency for Ukraine, even when this law was not signed by the president. In the future, legislative acts will be adopted that will clearly regulate cryptocurrency, including taxation of citizens whose activities are related to cryptocurrency.

[Husires]

It is positive news, but it cannot return to being related to the war.

• The government is looking for ways to finance and digital currencies may be a source of obtaining some aid.
• It may also be imposing taxes or making companies operate virtually without having real offices in that country.
  
• It is not as positive as accepting Bitcoin as legal tender but the legislation would be good for individuals.
  
• A legal background can now be found for all fraud cases that may occur during current donations.
  

The government will now accept donations legally.

[fiulpro]

That's really amazing because right now the banks are suffering terribly form the war, even if there are donations pouring down from various sectors and sources, there are still a lot of problems as well. I do think this is something that the Russians will do soon as well. Due to the sanctions they are having a hard time maintaining any kind of assets anywhere therefore for them it would be the wise option.

Government was already engaged in cryptocurrencies way before the war. Ukraine was already becoming the new crypto hub therefore it's not going to loose it's edge after the war ends as well.

The people would be able to track down the donations as well since the government is officially accepting crypto payments and donations therefore I think it can be quite positive.

[tvplus006]

...The people would be able to track down the donations as well since the government is officially accepting crypto payments and donations therefore I think it can be quite positive.

According to the information posted on the official website of Aid For Ukraine https://donate.thedigital.gov.ua / the FTX cryptocurrency exchange will be engaged in the conversion of the collected cryptocurrency into fiat. Accordingly, you will not be able to track thanks to the blockchain where the cryptocurrency will be spent.

[Fortify]

Despite the ongoing war, Ukraine continues its movement towards a civilized cryptocurrency market. On March 16, president of Ukraine Volodymyr Zelensky signed the law of Ukraine "on virtual assets", according to the government portal of Ukraine https://www.kmu.gov.ua/news/ukrayina-legalizuvala-kriptosektor-prezident-pidpisav-profilnij-zakon

"This law creates conditions for launching a legal virtual asset market in Ukraine. The new market will be regulated by the National Securities and stock market Commission".

As the Minister of Digital Transformation of Ukraine Mikhail Fedorov wrote in the Telegram channel https://t.me/zedigital/1368 , this law will allow:
- foreign and Ukrainian crypto exchanges will operate legally;
- banks will open accounts for crypto companies;
- Ukrainians will be able to protect their investments in virtual assets.
- the state will guarantee judicial protection of rights to virtual assets

For those who are not indifferent, I leave a link to the official website of Aid For Ukraine https://donate.thedigital.gov.ua

Ukraine is looking for all sorts of inbound funds and sources of revenue so it makes complete sense to start permitting crypto - especially with the flood of overseas donations heading into the country. It's nice to see that it now has official backing, let's hope their website and wallets are adequately secured away so that these funds go to the most useful places. It's quite a substantial boost to the crypto scene when this defiant and war torn country has decided to accept this new form of currency in their fight against an invasion with it being signed off by the president himself. It's amazing they even have the capacity to deal with such economic issues in this dark time.

[adzino]

I thought they made it (or were making) crypto currencies legal before the war started. But weren't crypto currencies already legal over there? Or did they belong to the grey area? Because I have seen many Ukrainian based exchanges swapping between coins or digital wallets like paypal.
Anyway, good move by the government. At least the citizens will be able to protect their assets if they hold everything in bitcoin. Would have been better if they made it a legal tender. Eventually though will happen.

[TimeTeller]

I thought they made it (or were making) crypto currencies legal before the war started. But weren't crypto currencies already legal over there? Or did they belong to the grey area? Because I have seen many Ukrainian based exchanges swapping between coins or digital wallets like paypal.
Anyway, good move by the government. At least the citizens will be able to protect their assets if they hold everything in bitcoin. Would have been better if they made it a legal tender. Eventually though will happen.

Making it as legal tender I believe is not an immediate solution to this situation.
Just be glad that they are now recognizing the importance of crypto market.
They received hundred of millions of dollars courtesy of crypto, this is why they recognized its importance during this war.
Legalization is already a good step in terms of adoption. We can't ask too much during this crisis.

[ajochems]

When the crypto played a huge role in the war.This crypto gonna had  a root base now.Now the Ukraine government official accepted the crypto for the donations, it mean the Ukraine had like legalized of crypto currency in their country.When the flow of crypto increased in the Ukraine, this will be the good news. You can check the price in past two days.Some good pump in the price of bitcoin pump will leads to the bitcoin pump.

[tbterryboy]

The cryptocurrency market in Ukraine has worked before, as the government has always favored the cryptocurrency. But indeed, after the war began, crypto assets became a powerful tool for attracting additional funding to protect against Russian aggression. During the three weeks of the war, the crypto fund of Ukraine raised more than $54 million in crypto assets for defense.

When your nation is getting 100+ million euros in donations from crypto, suddenly you would be getting a bit more interest towards it personally as well. We need to remember that presidents are regular humans as well. Humanity likes to create gods out of people and keeps on promoting them to be heros and all that, you do not have to like trump, you do not have to like Biden, you do not have to like Putin or Zelensky or macron or merkel or anyone.

These are just regular people and just because they have a different profession then yours, you should not be really promoting them to a higher standard. This is why Zelensky probably saw the money coming in, and changed his views, realized he was wrong and accepted it this time around.

[Argoo]

The cryptocurrency market in Ukraine has worked before, as the government has always favored the cryptocurrency. But indeed, after the war began, crypto assets became a powerful tool for attracting additional funding to protect against Russian aggression. During the three weeks of the war, the crypto fund of Ukraine raised more than $54 million in crypto assets for defense.

When your nation is getting 100+ million euros in donations from crypto, suddenly you would be getting a bit more interest towards it personally as well. We need to remember that presidents are regular humans as well. Humanity likes to create gods out of people and keeps on promoting them to be heros and all that, you do not have to like trump, you do not have to like Biden, you do not have to like Putin or Zelensky or macron or merkel or anyone.

These are just regular people and just because they have a different profession then yours, you should not be really promoting them to a higher standard. This is why Zelensky probably saw the money coming in, and changed his views, realized he was wrong and accepted it this time around.

The President of Ukraine Zelensky did not change his attitude towards cryptocurrency to a more positive one. In Ukraine, and before there was actually no authority and management, or even a senior official, who would oppose the legalization of cryptocurrency. Zelensky vetoed the previous draft law on digital assets only because he did not agree with the definition of the body that would have to regulate the circulation of cryptocurrency in the country. Therefore, when this question was changed to a more logical one, he signed this bill.
There was a lot of well-deserved criticism of Zelensky's actions as president of Ukraine before the Russian aggression. But after the Russian attack, everything was thrown back and all the people, including Zelensky, are working harmoniously to defend the country and future victory in the war.

[Leviathan.007]

I was expecting to see such an article about Ukraine and cryptocurrencies anytime after the war started, Zelensky is trying to be a hero of this war and he wants to legalize cryptocurrencies for people to help them keep using bitcoin and cryptocurrencies, now Ukrainian people cab start investing on bitcoin and other cryptocurrencies to stay safe from the inflation came from the war and keep their money safe, due to the increasing usage of bitcoin and cryptocurrencies on Ukraine that's normal to see Ukrain wasn't to legalize it.

[tvplus006]

I was expecting to see such an article about Ukraine and cryptocurrencies anytime after the war started, Zelensky is trying to be a hero of this war and he wants to legalize cryptocurrencies for people to help them keep using bitcoin and cryptocurrencies, now Ukrainian people cab start investing on bitcoin and other cryptocurrencies to stay safe from the inflation came from the war and keep their money safe, due to the increasing usage of bitcoin and cryptocurrencies on Ukraine that's normal to see Ukrain wasn't to legalize it.

Until this law was adopted and signed by the President of Ukraine, it was possible to freely buy and sell cryptocurrency in the country. Since the principle was in effect that everything that is not prohibited is allowed. So for many, this law has not changed anything at the moment, but due to the ongoing war, activity in this area has decreased on the contrary.

[bitgolden]

Legalizing crypto is just one step, we need to not just get it legal but we need to actually build a whole sector on it. If there are enough companies working in crypto inside Ukraine that would be the thing that would bring them real money. Since they are in a war right now, I doubt that anyone would care about the current situation and go into it.

But after this war is over, they could have a lot of people who would be willing to open some companies there thanks to this law. Miners could actually get a lot of money (hence pay a lot of taxes) if it could be arranged some way. They famously have a nuclear plant (that got bombed recently) which could provide cheap energy.

[cabron]

It just come up today the news from FOX about Ukrainian President Zelenskyy legalizing crypto. https://www.youtube.com/watch?v=Fdo8Ad4Onmk

So they really are up to it, it could be a new bull market indication again this year along with the crude prices  Ukrainian better be hurrying to grab the cheap tokens they could get today because it's their chance to get out of the mess this war had done. Maybe in the next few months, they'd be able to rebuild their houses that's been destroyed.

[ropyu1978]

Ukraine has legalized crypto, but not as a legal tender, but as a free-to-trade asset. In the midst of the onslaught of Russia, the Ukrainian president has legalized bitcoin, but I don't know what is the purpose of Ukraine legalizing bitcoin in their country, what do you think is the purpose of Ukraine legalizing bitcoin in their country,??