Ukrainian Parliament Passes Bill to Legalize Cryptocurrencies

Bill to Legalize Cryptocurrencies

The Ukrainian lawmakers have passed a bill in line with the President’s proposed amendments to legalize virtual assets in the country.  

Ukraine’s National Commission on Securities and Stock Markets will issue VASPs with permits under the new legislation.

The law, which garnered 272 votes from the MPs, also tasks the commission to determine the order of circulation of virtual assets and to set policies in the sector.

The Ukrainian minister of digital transformation, Mykhaylo Fedorov, welcomed the new policy as a move to allow crypto firms in and out of Ukraine to operate legally.

The Deputy Minister of Digital Transformation for IT Development, Oleksandr Bornyakov, lauded the new law as an opportunity for the country to remain ahead in the crypto space. 

Ukraine is ranked among the top five countries in cryptocurrency usage globally, with a surging number of blockchain-based startups.

Source: States Sites of Ukraine

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