Ukraine Just Legalized Bitcoin

Ukraine's parliament unanimously voted to legalize, regulate cryptocurrency, enabling digital assets like Bitcoin, Ethereum, and others in Ukraine. 276 Ukrainian regulators voted during its second reading on September 8, 2021.

Ukraine Just Legalized Bitcoin
Ukrainian women

The Ukrainian Parliament has now made cryptos legal in the country. By extension, this will allow crypto exchanges to operate officially too. The law came into effect after the parliament passed the 2nd iteration of the Digital Assets Bill.

The local media reported the news in an official press release, saying,

“On September 8, 2021, the Ukrainian Parliament has voted for draft No. 3637 of the Virtual Assets Bill. It regulates the industry of cryptocurrencies, and now holders of such assets will legally exchange and declare them, and international crypto companies may register a blockchain business in Ukraine.”

According to the media, the bill clears the status of Bitcoin and protects those who own crypto in Ukraine. As a result, firms and investors can trade Bitcoin freely now.

In addition, the Ukraine lawmakers said they will set up other regulators that will issue permits to crypto businesses. Aside from this, they will also set guidelines for how the country will regulate crypto in the future.

As per Mykhailo Fedorov, the country's digital transformation minister, Ukraine's citizens will invest more in Bitcoin (BTC) if it becomes legal and safer.

Following this, Mykhailo Fedorov said,

“Only a few countries in the world have legalized crypto assets — Germany, Luxembourg, Singapore. Ukraine will be one of them”

Moreover, this news just gave the crypto community a warm joy and good feeling.