After receiving millions of dollars in crypto donations amidst the war with Russia, war-hit Ukraine's President Volodymyr Zelenskyy has now legalized crypto in the country.?
Yesterday, Zelenskyy signed into law a bill on virtual assets, as per a report in CoinDesk.
The law determines the legal status, classification, ownership and regulators of virtual assets, as well as setting registration requirements for crypto services providers, said the Ministry of Digital Transformation in a statement yesterday.
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Here¡¯s the tweet by the Digital Ministry of Ukraine which states that the market will be regulated by Ukraine's National Commission on Securities and the Stock Market. Exchanges will be able to operate legally, and banks will open accounts for them.
The Ukraine state body is tasked with "shaping and pursuing a policy in the field of virtual assets; determining the order of circulation of virtual assets; issuing permits to virtual asset service providers; and carrying out supervision and financial monitoring in this area," as per last month¡¯s government announcement, according to CoinDesk.
The Ministry of Finance is working on amendments to the country's tax and civil codes to fully launch the market for virtual assets, the statement reportedly stated.
Before the bill got passed through parliament on February 17th 2022 and ultimately became law yesterday, President Zelensky had rejected an earlier version of the bill in 2021, as per the?CoinDesk report.
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