Ukraine passes a law on the legalization of crypto as a threat to war web chairs
Ukraine passes a law on the legalization of crypto as a threat to war web chairs
- Ukraine has passed a changed crypto law that officially recognizes the resulting asset
- A legal market will be set up and there will be a formal regulatory authority to monitor and control crypto
The Ukraine parliament has passed changes to its law on virtual assets that ratify the possible creation of a legal market for cryptocurrencies.
The Werchowna Rada-the Ukraine parliament-has said goodbye to her crypto law with a majority support of 272 of its 450 members Awarding . By changes to the draft law, which was first introduced in September, the National Commission on Securities and Stock Market is installed as the primary regulatory authority for crypto.
"The new law is an additional opportunity for business development in our country," said Mykhailo Fedorov, Vice Prime Minister and Minister of Digital Transformation of Ukraine. "Foreign and Ukrainian crypto companies will be able to act legally, while the Ukrainians will have convenient and safe access to the global market for virtual assets."
The market participants also receive legal protection and opportunities to make decisions based on open consultations with government agencies, the minister added. "There will be a transparent mechanism to invest in a new investment class."
As part of its role as a regulatory authority, the national commission for the design of politics, the determination of the order for the spread of crypto, the granting of licenses to providers of services for virtual assets and the supervisory duties will be responsible.
Ukraine also works with the minister's office on changes in its tax and civil law books, as part of the step to represent their attitude towards the introduction of crypto in Germany, the government said.
rising tensions
The changed law of Ukraine comes because Russia has maintained a great military presence in the region that is capable of an invasion, said US President Joe Biden, who repeated on Thursday that the former Soviet power had not deducted some of its troops from the Ukrainian-Russian border.
Due to the news that Russia had reportedly failed to withdraw and de -escalate due to the news that Russia had reported. "You have not deducted any of your troops," said Biden. "You have relocated more troops." According to the original statements by President Vladimir Putin that his country had decided to deduct the troops from the Ukrainian border on Monday, the markets were on a swing.The tensions remain high. While nobody knows with certainty whether troops have been recalled or whether it is a political tactic that aims to wait for a while, Maryna Kovalo, Ukrainian citizen and Australian citizen, told Blockworks, her country will always fight back.
"We have been fighting for independence for decades," she said. "We will continue to fight"
Ukraine separated from the USSR in 1991 after the Union was dissolved
Kovalenko, Kovalenko, which heads the Syla cryptocurrency platform in Brisbane, also said that the decision of Ukraine to officially introduce cryptocurrency is "progressive" and sets up its country for future external investments.
Ironically, the crypto development coming from Ukraine follows the considerations of Russia to previously regulate cryptocurrency as a means of payment in its economy. The country weighs whether it should develop new laws or change existing laws to monitor crypto as a currency to prevent illegal activities and bring tax revenue from crypto wins under state control."With this amended law, the Ukrainians receive opportunities and attention for their work in the crypto sector as well as a reasonable framework in which they can build assurances that their projects do not remain in the dark."
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