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Ukraine Moves to Legalize Cryptocurrency Within the Country

Amy Liu

Summary: The Ukrainian Parliament today voted to make cryptocurrency legal within the country and allow crypto exchanges to officially operate in the country.Cryptocurrencies, including Bitcoin, have heretofore been in a legal gray area in Ukraine, the seventh-most-populous country in Europe. Nonetheless, blockchain data firm Chainalysis ranked Ukrainians the top adopters of cryptocurrency in the world in ...

The Ukrainian Parliament today voted to make cryptocurrency legal within the country and allow crypto exchanges to officially operate in the country.Cryptocurrencies, including Bitcoin, have heretofore been in a legal gray area in Ukraine, the seventh-most-populous country in Europe. Nonetheless, blockchain data firm Chainalysis ranked Ukrainians the top adopters of cryptocurrency in the world in September 2020.

If the bill indeed is signed into law, banks will be free to take on crypto company accounts, while citizens who own it will have legal protections in case of theft. Deputy Minister Oleksander Bornyakov said, "It will become a powerful incentive for the further development of the crypto-sphere in Ukraine."

By Amy Liu

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