Ukraine has legalized the cryptosector

[Mometaskers]

Legalization is good as it encourages adoption but I'd still like it to be given the status of a legal tender rather than just an asset for trading an such. Nevertheless this is a favorable development and we'd probably see more from Ukraine as it try to incorporate crypto to keep its economy above water. Russia should start taking notes, LOL.

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.

This is a very good summary of all the benefits legalization have for the government.

[Tony116]

This will definitely happen, in the war with Russia crypto has played an extremely important role for Ukraine. As they begged the world to mobilize people to support them through the war. Without crypto, I don't think how we can donate a large amount of money to them when the cross-border remittance of banks is fraught with formalities and complications.
Hopefully, legalization will pave the way for bitcoin to become legal tender in Ukraine when the war is over.

[Pomogator]

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,??

I think there are several possible reasons for this. 2 most plausible. Firstly, this is done in order to make the cryptocurrency legal to donate to the country. By this they draw attention to themselves, make it clear that they are ready to accept help in this case. Secondly, most likely they released a previously planned project that they had been developing before, just coincided with these events. I have long heard that Ukraine wants to legalize cryptocurrency.

[jaberwock]

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,??

Yeah, why almost all the articles that we read are like that? There is always a twist in the middle or at the end of their sentence. This is the same to what I read before, where one country will now make bitcoin and tether a legal tender but the catch is they will tax the users of it. Government is truly wiser than us. It's a false alarm to think they naturally adopt bitcoin but first, there must be conditions to follow but overall this was still nice right?

Because at the end of the day, they still accept bitcoin and I think that is the most important part there, not the tax or anything and we shouldn't be angry with the taxation part because taxes are a part of the economy.

[Scripture]

This is a good thing to make the Ukrainian economy survive because of the war, if it is not immediate adoption of cryptocurrencies, it can be sure there will be thousands of percent inflation that makes long-term big problems, Cryptocurrencies has proven effective to overcome various financial problems.

Wondering why if there’s no sanctions against them most probably, they are doing this to reach more people especially on giving help but with regards to their economy, I think crypto wont affect that much they still need to do something better to slowly recover from this war. Though making crypto legal is a good thing, but for sure this us just their band aid solution.

[romero121]

This is a good thing to make the Ukrainian economy survive because of the war, if it is not immediate adoption of cryptocurrencies, it can be sure there will be thousands of percent inflation that makes long-term big problems, Cryptocurrencies has proven effective to overcome various financial problems.

Wondering why if there’s no sanctions against them most probably, they are doing this to reach more people especially on giving help but with regards to their economy, I think crypto wont affect that much they still need to do something better to slowly recover from this war. Though making crypto legal is a good thing, but for sure this us just their band aid solution.

Ukraine even at its worst situation legalized the usage of bitcoin and other cryptocurrencies. At this moment Ukraine have made this decision to overcome the ongoing issues with transaction and to receive the donations with ease. Already it have recieved more than $60 million in donation. By the same time Ukrainian Bank have restricted the people from buying bitcoin with fiat. This is an initiative to recover the fallen economy.

[eaLiTy]

~
At this moment Ukraine have made this decision to overcome the ongoing issues with transaction and to receive the donations with ease. Already it have recieved more than $60 million in donation. By the same time Ukrainian Bank have restricted the people from buying bitcoin with fiat. This is an initiative to recover the fallen economy.

It is not just about the donations, people are not able to withdraw the funds from banks and there is a serious shortage of paper currency and the government needed to act in order to counter these issues and glad to see that they are including the cryptocurrency market in the grand scheme of things.

The two things i loved is

Ukrainians will be able to protect their investments in virtual assets.
The state will guarantee judicial protection of rights to virtual assets

But i am curious whether we need to reveal our assets before hand before getting these protection or a simple proof of owning the wallets is more than enough to get these protection.

[Captain Corporate]

 Once again, people are missing out the long term impact of these donations. Crypto is not always seen in a shining light, there are too many politicians who are trying to make it sound like crypto is a bad thing, and having crypto in a good light where we are donating to save lives surely impacts it in a good way. This will make news places to talk about crypto and how we donated 100+ million dollars to help Ukraine win this war or at the very least help them. This is why I believe that its not just about Ukraine making it legal, it is also about a lot more people seeing crypto as a good thing, all around the world.

[crzy]

 Once again, people are missing out the long term impact of these donations. Crypto is not always seen in a shining light, there are too many politicians who are trying to make it sound like crypto is a bad thing, and having crypto in a good light where we are donating to save lives surely impacts it in a good way. This will make news places to talk about crypto and how we donated 100+ million dollars to help Ukraine win this war or at the very least help them. This is why I believe that its not just about Ukraine making it legal, it is also about a lot more people seeing crypto as a good thing, all around the world.

Making this legal is a great thing and a proof that crypto is something big and we really need it. People should still be careful on donating with Ukrainian crypto address, many are still fake and that project could be a scam. Better to wait for the legit site and legit address, crypto will surely make the world better especially if more people will start to use it.

[tvplus006]

...People should still be careful on donating with Ukrainian crypto address, many are still fake and that project could be a scam. Better to wait for the legit site and legit address, crypto will surely make the world better especially if more people will start to use it.

Such an official website already exists - Aid For Ukraine https://donate.thedigital.gov.ua/ Thanks to the FTX cryptocurrency exchange, all collected cryptocurrency is converted into fiat and transferred to the National Bank of Ukraine. As reported on the website: "This marks the first-ever instance of a cryptocurrency exchange directly cooperating with a public financial entity to provide a conduit for crypto donations".

[timerland]

Well, they are getting a lot of donations via crypto so it would make no sense for them to not to.

Besides, it is an overdue decision in my opinion. Many countries have already done this time and time again.

Allowing institutional crypto firms to exist is now one of the priorities that countries must get right, because it is able to give them such a big economic advantage over others.

[jostorres]

Legalization is good as it encourages adoption but I'd still like it to be given the status of a legal tender rather than just an asset for trading an such. Nevertheless this is a favorable development and we'd probably see more from Ukraine as it try to incorporate crypto to keep its economy above water. Russia should start taking notes, LOL.

When they legalize crypto, it's the same as they adopt it but it can encourage other countries to follow if they see Ukraine have now legalize cryptos. It could take some more time before they make cryptos as a legal tender. They first need to make sure that cryptos are okay to use and they need to observe if more people are happy and contented of using it.

You should not worry about Russia because Russia already has a plan like this before the Ukraine acted it but it's only just a plan though and till now there is no update in regards to the status of crypto in Russia. They are not rushing because they know that other countries are watching them if they commit such act.

[raidarksword]

A good way to embrace crypto in ukraine and this will make a big impact in the market as well. Hence ukraine was donated with crypto funds from all the people as a legal aid during the crisis, it is an absolute right to make it a legal currency because banks were having a trouble  since the invasion. This could be an alternative to ukrainians to buy goods, foods and services.

[Mometaskers]

Legalization is good as it encourages adoption but I'd still like it to be given the status of a legal tender rather than just an asset for trading an such. Nevertheless this is a favorable development and we'd probably see more from Ukraine as it try to incorporate crypto to keep its economy above water. Russia should start taking notes, LOL.

When they legalize crypto, it's the same as they adopt it but it can encourage other countries to follow if they see Ukraine have now legalize cryptos. It could take some more time before they make cryptos as a legal tender. They first need to make sure that cryptos are okay to use and they need to observe if more people are happy and contented of using it.

You should not worry about Russia because Russia already has a plan like this before the Ukraine acted it but it's only just a plan though and till now there is no update in regards to the status of crypto in Russia. They are not rushing because they know that other countries are watching them if they commit such act.

I'm more under the impression that they are worried that cryptos could outright replace fiat should they become legal tenders and we know part of the governments' powers come from being able to print money. But yes, they are wary and would like to observe first if it would benefit them.

[martha1]

But this legalization was directly due to the russian invasion and not the will to support cryptocurrency whatsoever,they just needed a safe place to store goverment and individual wealth in this ongoing crises.

[Cookdata]

This will definitely happen, in the war with Russia crypto has played an extremely important role for Ukraine. As they begged the world to mobilize people to support them through the war. Without crypto, I don't think how we can donate a large amount of money to them when the cross-border remittance of banks is fraught with formalities and complications.
Hopefully, legalization will pave the way for bitcoin to become legal tender in Ukraine when the war is over.

Why do I have this feeling that governments are clowns, it is not limited to any country, they are all the same. The legal proceedings came in when they were on the hot seat, what happen to the process before they were invaded by the Russians. Ukraine was largely donated to by the Bitcoin community, it is time others should follow the legal preparation of Bitcoin before it is too late. I hope Zelensky doesn't change his mind about those bitcoins donated, I trust no government when they sit on their chairs.

[Xampeuu]

This will definitely happen, in the war with Russia crypto has played an extremely important role for Ukraine. As they begged the world to mobilize people to support them through the war. Without crypto, I don't think how we can donate a large amount of money to them when the cross-border remittance of banks is fraught with formalities and complications.
Hopefully, legalization will pave the way for bitcoin to become legal tender in Ukraine when the war is over.

Why do I have this feeling that governments are clowns, it is not limited to any country, they are all the same. The legal proceedings came in when they were on the hot seat, what happen to the process before they were invaded by the Russians. Ukraine was largely donated to by the Bitcoin community, it is time others should follow the legal preparation of Bitcoin before it is too late. I hope Zelensky doesn't change his mind about those bitcoins donated, I trust no government when they sit on their chairs.

at least they understand the use of bitcoin in the current situation, until finally they can do more after the war is over, and don't forget bitcoin services. but we can only hope, of course they will only calculate the profit and loss. but indirectly it is at times like this that bitcoin has more value and has proven usefulness, so that everyone can judge it because the development of the times is inevitable

[RealMalatesta]

Why do I have this feeling that governments are clowns, it is not limited to any country, they are all the same. The legal proceedings came in when they were on the hot seat, what happen to the process before they were invaded by the Russians. Ukraine was largely donated to by the Bitcoin community, it is time others should follow the legal preparation of Bitcoin before it is too late. I hope Zelensky doesn't change his mind about those bitcoins donated, I trust no government when they sit on their chairs.

Well, I understand what you are trying to say. When it is true that the government are only interested in Bitcoin because of what has started happening in their country. Assuming that there was no war in their country by now it is possible that they wouldn’t have opened their arms to embrace cryptocurrency in their country, and it would have been nothing but a dream.

Since, they have ended up seeing themselves in a really tight position, they have no other option than to do whatever is necessary or possible for them to keep things moving, which adopting cryptocurrency is one of the decisions that they believe they can make at this point. Anyways let's hope that after everything that they continue to allow cryptocurrency as a legal asset in their country.

[lixer]

Why do I have this feeling that governments are clowns, it is not limited to any country, they are all the same. The legal proceedings came in when they were on the hot seat, what happen to the process before they were invaded by the Russians. Ukraine was largely donated to by the Bitcoin community, it is time others should follow the legal preparation of Bitcoin before it is too late. I hope Zelensky doesn't change his mind about those bitcoins donated, I trust no government when they sit on their chairs.

at least they understand the use of bitcoin in the current situation, until finally they can do more after the war is over, and don't forget bitcoin services. but we can only hope, of course they will only calculate the profit and loss. but indirectly it is at times like this that bitcoin has more value and has proven usefulness, so that everyone can judge it because the development of the times is inevitable

Unfortunately governments will only understand the brilliance of bitcoin and crypto only after it is too late for them. If Ukraine did this way before the war started, they could have gathered so much more taxes. Imagine if they did this 5 years ago, and promoted themselves as crypto capital of Europe? They would have gathered billions of dollars from taxes and could be spent to get a lot more drones and weapons and armor.

In any case, they are at least doing fine right now and they have seen the beauty of it, Russia is slowly getting it as well and they are using it too, so both sides have realized why bitcoin could be great for them all.

[Etranger]

I believe, this step is very important for my country. I have written about how this action can help during the war

Ukraine has taken another necessary and important step in this direction. The President signed a law on the legalization of cryptocurrencies.
https://www.coindesk.com/policy/2022/03/16/ukraines-zelensky-signs-virtual-assets-bill-into-law-legalizing-crypto/
I believe that this action brings the cryptosector out of the shadows. During the war, it is necessary to support the economy and direct money to the country's budget.

But I am also thinking about the future. When we win the war, we will need to rebuild our country and to recreate economy. For the past few years there were quite a lot of people, who used crypto, who had additional incomes from it. In Ukraine the most people don`t have high salary, that is why almost everyone think about some other ways to get more noney. Unfortunately, it provokes shadow economy to become wider, people are working non-legally, they often don`t pay taxes. The same fate has befallen the cryptosector for a long time. Many people faced the problem when they were making money from crypto trading or investing, but did not know how to cash them out. Therefore, they spent efforts to find workarounds, although they could focus on their own investment if they knew they could do so legally. Signing this law creates opportunities to focus on people`s own earnings, without fear of banks having to figure out where it came from. It is better to pay taxes calmly than to be stressed that your accounts will be blocked, because money has appeared there, the origin of which you cannot legally explain. In addition, the state will only benefit from extra budget revenues.