Cryptocurrency Statement from the Deputy Prime Minister of Ukraine!

The Deputy Prime Minister of Ukraine told reporters at the World Economic Forum that he wants to be the first user of the planned new central bank digital currency (CBDC) and receive his salary in e-hryvnia and cryptocurrencies talked about.

“We Will Make Ukraine the Best Cryptocurrency Jurisdiction with New Laws”

Mykhailo Fedorov, who is also Ukraine’s minister for digital transformation, said that after Ukraine has successfully used cryptocurrencies to raise money for its armed forces, the new laws will make the country the world’s leading jurisdiction for cryptoassets.

“I saw a pilot of electronic e-hyrvnia in Ukraine two weeks ago,” Fedorov said about plans to issue a CBDC in collaboration with crypto company Stellar, speaking through a translator.

“I plan to be the first tester of electronic hryvnia and receive my salary in e-hryvnia.”

With the neighboring European Union’s draft legislation on the digital Euro later this year, Ukraine is one of a number of countries around the world that are considering whether to issue fiat currency in digital form.

Fedorov said that just weeks after the country was invaded by Russia, the virtual assets legislation enacted last year will be complemented by a new tax law for crypto and a CBDC law that the Central Bank of Ukraine will enact next year:

“This will ensure Ukraine has the best crypto assets jurisdiction in the world… A complex and comprehensive approach to legalization of all digital assets.”

In an unprecedented move, Ukraine’s cryptocurrency fundraising campaign launched at the beginning of the war managed to collect $178 million in clothing, vehicles and other equipment for soldiers without being caught in capital controls.

“Thanks to the support of the world crypto community, we have managed to facilitate and accelerate the rapid acquisition of everything we need for our armed forces,” Fedorov said.

*Not investment advice.

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