קריפּטאָ

אוקריינא ליגאַלייזיז קריפּטאָ, דעם געזעץ קען פאַרגרעסערן דאָוניישאַנז

03/17/2022
ביטקאָין עטהערעום נייַעס

The government of Ukraine legalized crypto and digital assets on its territory. Per an באַאַמטער פּאָסטן, the president of the country Volodymyr Zelenskyy signed a law that legalizes transactions with this asset class.

פֿאַרבונדענע רידינג | יראַניאַן, ווענעזועלאַן אָפּענסעאַ יוזערז בלאַקט פֿון NFT פּלאַטפאָרם איבער רוסלאַנד ס באַפאַלן אויף אוקריינא

According to the law, crypto exchange platforms will be able to operate in this country, and companies and individuals are authorized to transact on this platform. The law contemplates the creation of a legal and regulatory framework that seems poised to usher in a new era of adoption on the territory.

In February, Ukraine was invaded by the Russian Federation, led by Vladimir Putin. The international community responded by cutting ties with Russia and imposing unprecedented sanctions.

At the same time, Ukraine asked for donations from around the world to fight against the army which they consider an invader. The crypto community was one of the most eager to help.

The Ukrainian government acknowledged this intention and quickly set up crypto addresses to receive funds in Bitcoin and Ethereum. The response from the digital asset community was overwhelming, and Ukraine expanded its addresses to accept donations in Dogecoin (DOGE), Polkadot (DOT), Solana (SOL), and others.

This initiative has been led by Ukraine’s Ministry for Digital Transformation led by Mykhailo Fedorov. Commenting on the recent law on crypto, Fedorov said:

The signing of this law by the president is another important step towards bringing the crypto sector out of the shadows and launching a legal market for virtual assets in Ukraine.

Estimations claimed the country has received over $100 million in digital asset donations. A part of which has been used to purchase military equipment, and the other to purchase other vital items.

The law was vetoed by Zelenskyy back in 2020, the president argued that it could be expensive to create a new regulatory framework for digital assets. These contributions have convinced the Ukraine government to change their stand and become more friendly towards the asset class that could change the outcome of the war.

The Future Of Crypto In Ukraine

In addition to providing citizens with access to cryptocurrencies and exchange platforms, the law placed these assets under regulatory supervision by the National Commission on Securities and Stock Market.

In the coming months, the Ministry for Digital Transformation and the Ministry of Finance will work together to amend current laws and launch a market for digital assets. Fedorov added:

Foreign and Ukrainian crypto companies will be able to operate legally, while Ukrainians will have convenient and secure access to the global market for virtual assets.

The change in regulations, the legalization of digital assets, and its national acceptance could make more Ukrainian citizens likely to adopt these assets. Thus, donations and P2P transactions with digital assets could see a boost.

Reports from leading crypto exchange platforms, and their leadership, claim a lot of people have turned to these assets as Russia prologues its assault. As banking institutions fail, digital assets are there to fill the void and help people on both sides of the conflict.

פֿאַרבונדענע רידינג | קאַטער פון קריפּטאָ דאָנאַטיאָן פּלאַץ אַ גרויס בוסט פֿאַר אוקריינא ס מיליטער פייטינג די רוסישע ינוואַדערס

אין דער צייט פון שרייבן, ביטקאָין (בטק) טריידז ביי $ 40,760 מיט אַ אָנווער פון 1.3% אין די לעצטע 24 שעה.

ביטקאָין בטק בטקוסד
BTC with minor profits on the daily chart. Source: בטקוסד טראַדינגוויעוו

Source: https://bitcoinist.com/ukraine-crypto-how-law-could-increase-donations/