Ukraine legalizes Bitcoin

Ukraine legalizes Bitcoin – The fifth country in a few weeks

Ukraine legally accepts Bitcoin – In the office of Volodymyr Zelensky to sign the bill
The entry of cryptocurrencies into European territory is officially “signed” by Ukraine, as it is expected to become the first country in Europe to proceed with the legal “recognition” of Bitcoin with market rules and regulatory framework, which shows that governments around the world are now beginning. to accept that cryptocurrencies came to stay.
According to CNBC, the Ukrainian parliament passed a law legalizing bitcoin, which until now, was moving in the country in a “legal gray area”. In other words, the purchase and exchange of digital currencies was allowed, but cryptocurrency companies and stock exchanges were often closely monitored.

In August, for example, the Security Service of Ukraine (SBU) shut down a network that it revealed was conducting “covert cryptocurrency exchanges” operating in the capital, Kiev. The SBU claimed that these exchanges facilitated money laundering and provided anonymity to the transactions.

Zelensky to sign the relevant bill

The Ukrainian authorities often viewed transactions with digital currencies with suspicion. The passage of the law by the parliament, which was drafted in 2020, aims to create a “safety net” around these transactions.

All that remains for the new law to enter into force is the final approval of Volodymyr Zelensky. If signed by the Ukrainian president, digital assets and digital wallets are terms that will be enshrined in Ukrainian law.

It should be noted that Ukraine is the fifth country in the world that adopts or has regulated the rules for cryptocurrencies, after El Salvador, Cuba, Panama and the USA, which only last month set rules on the relevant trading platforms as it is estimated that their value exceeds $ 1 trillion.

Also in March, the German Federal Office for Financial Supervision (BaFin) issued guidelines characterizing cryptocurrencies as financial instruments. In early August, Germany also allowed large funds to invest a percentage of their assets in cryptocurrencies.


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