After the Russian invasion of Ukraine cryptocurrency started to be discussed and understood from a different window. On the one hand, the possibility of Russia using crypto money to escape sanctions was discussed, on the other hand, crypto money donations to Ukraine were on the agenda.
While it has been stated that Ukraine has received $ 100 million in crypto money donations so far, an important move towards cryptocurrencies has come today.
Law Approved
Ukraine’s President Volodymyr Zelenskyy has approved a bill legalizing cryptoassets to support his country against the Russian invasion, according to a statement by the Ministry of Digital Transformation.
The law, which was approved and signed, regulates the legal status, classification and ownership of cryptocurrencies, as well as registration requirements for crypto service providers.
Accordingly, cryptocurrency markets will be regulated and overseen by the National Securities and Exchange Commission of Ukraine.
Cryptocurrency exchanges will be able to operate legally in the country and banks will open accounts for these exchanges.
Zelenskyy rejected the bill in 2021 and sent it back to the parliament. The bill, which was re-negotiated by the Assembly, passed the Assembly on 17 February and was sent to Zelenskyy for approval.
With the announcement made today, Ukraine has completely legalized cryptocurrencies.
It is also aimed to change some laws in order to fully launch the virtual asset market in the country.