Ukraine crypto bill is officially signed into law by Ukrainian president Volodymyr Zelenskyy.  Covered: Ukraine Signs Bill Into Law Crypto In Ukraine Ukraine Signs Bill Into Law The law “on virtual assets” was signed today! Now crypto is legalized in Ukraine. Thank you, President @Zelenskyy for the support. We believe that crypto industry offers new […] The post Ukraine Officially Legalizes Crypto After Receiving 100 Million In Donations appeared first on CryptosRus.

Ukraine Officially Legalizes Crypto After Receiving 100 Million In Donations

Ukraine crypto bill is officially signed into law by Ukrainian president Volodymyr Zelenskyy. 

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  • Ukraine Signs Bill Into Law
  • Crypto In Ukraine

Ukraine Signs Bill Into Law

Ukraine’s president Volodymyr Zelenskyy officially made cryptocurrency legal in Ukraine after signing the “On Virtual Assets” bill into law today. The bill will see crypto regulated under the National Commission on Securities and Stock Market — the Ukrainian equivalent of the SEC.

The bill had previously been agreed on in the Ukrainian parliament, but it was rejected by Zelenskyy because the previous version of the bill didn’t include regulation under the national commission. The original bill would have seen a new regulatory body formed to oversee the emerging digital asset class.

“The creation of a new body, as provided by this law, will require significant expenditures from the state budget. Therefore, Volodymyr Zelensky proposes to include the regulation of the circulation of virtual assets in the competence of the National Securities and Stock Market Commission,” Zelenskyy’s office said back in September. 

According to a release from the Ukrainian government, the Ministry of Finance is working to “amend the Tax and Civil Codes of Ukraine to fully launch the market for virtual assets” before the law can be fully launched. 

Ukraine announced the other day the formation of a website that simplifies donating to the country using cryptocurrency.

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Crypto In Ukraine

The lack of regulatory clarity hasn’t stopped cryptocurrency from being used during Russia’s invasion of the European country. In fact, it’s been used in a variety of ways from donations in the form of military goods or humanitarian aid, as well as for refugees fleeing the country. 

The crypto world has donated around 100 million USD to Ukraine since the country first posted addresses for BTC, ETH, and USDT on their official Twitter. Since then projects like Polkadot, Dogecoin, and many others have found a way to donate. Not to mention, NTFs like cryptopunks have been donated, and Russian band Pussy Riot formed a DAO to contribute.

Alex Bornyakov, the Deputy Minister of Digital Transformation of Ukraine, broke down on Twitter how crypto has helped Ukraine so far. 

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