Breaking: Ukraine Legalizes Crypto Few Days After Russia

In another big news today, amid ongoing war situation Ukraine today legalized crypto. Ukrainian Vice Prime Minister, Mykhailo Fedorov today officially announced that Ukraine parliament has adopted law on virtual assets. The new law will protect assets of crypto investors from possible fraud or abuse.

Ukraine is already in top-5 countries on cryptocurrency usage. Today we made one more step forward: Parliament adopted law on virtual assets! This will legalize crypto exchangers and cryptocurrencies, and Ukrainians could protect their assets from possible abuse or fraud.

— Mykhailo Fedorov (@FedorovMykhailo) February 17, 2022

Ukraine Adopts Law To Legalize Crypto

Earlier, today Ukrainian parliament considering Ukraine’s large scale crypto adoption finally passed the law to regulate cryptocurrency. Earlier in September, 2021 Ukraine parliament passed a bill to regulate crypto with required laws and tax codes still pending.

This announcement comes days after Russian Govt. regulated crypto as legal currency in the country. Ukraine and Russian both are trying to impose their supremacy over crypto adoption. As reported by Coingape, Russians hold more than $200 Billion worth of crypto and Russian Govt. stands an opportunity to collect $13 Billion in crypto taxes per year.

Ukraine is also not far behind and country is ranked 4th in global crypto adoption index by Chainalysis. Yearly crypto transaction volumes in Ukraine is estimated to be around $8 Billion.

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Sunil Sharma

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on X at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

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