Ukraine occupied by Russia cryptocurrency aid continues.
over $60 million cryptocurrency The Ukrainian government, which received the donation, used some of the donations to meet the basic needs of citizens such as food and fuel, while $ 15 million of the crypto money donations were used to purchase a number of military equipment, including bulletproof steel vests for soldiers.
speaking at a zoom meeting Alex Bornyakov, Deputy Minister of Digital TransformationHe said that the Ministry of Digital Transformation, which has become the de facto crypto ministry of Ukraine, makes purchases of military equipment based on the requests of the Ministry of Defense.
Some military equipment directly from suppliers cryptocurrency Emphasizing that he was willing to accept, Bornyakov said that this situation made the work of the Ukrainian government easier.
“Some military supplies suppliers have companies and bank accounts in jurisdictions where cryptocurrencies are allowed. These organizations only accept Bitcoin, Ethereum and some stablecoins.
Cryptocurrency payments are easier, more transparent and faster compared to a SWIFT transaction, which can take more than a day. In this context, the use of cryptocurrencies in payments facilitates the work of the Ukrainian government.”
Cryptocurrency funds Stating that five people are authorized to sign for the expenditures to be made with the company, Bornyakov stated that the officials cannot disclose their names for security reasons.
“At least three of the five authorized signatories are required to approve any expenditure of crypto funds. Officials at the Ukrainian Ministry of Defense decide how crypto donations will be spent.”
Lastly, Deputy Minister Bornyakov added that the charity fund created by cryptocurrency donations is used to purchase non-lethal items for military purposes such as bulletproof vests, night vision goggles, food and medical equipment.