Ukraine is the Latest to Adopt Cryptocurrency
Ukraine has now entered the fray – tomorrow, the world!
Ukraine passes legislation to recognize and regulate crypto
“On Wednesday, the Ukrainian Parliament adopted the draft law “On Virtual Assets,” legally recognizing cryptocurrency in the country for the first time. The legislation is based on the existing standards developed by the intergovernmental policy-making organization, Financial Action Task Force on Money Laundering (FATF).
Ukraine’s Ministry of Digital Transformation will be tasked with overseeing the implementation of the new digital asset regulation and guiding the industry’s growth in adherence to international standards.
Anastasia Bratko of the Ministry of Digital Transformation said the law allows companies to launch digital asset markets in Ukraine and enables banks to ‘open accounts for crypto companies.’
‘Ukrainians will also be able to declare their income in virtual assets,” she said, adding that the law “guarantees judicial protection of the rights to virtual asset owners.’”