The Verkhovna Rada in the final reading approved the bill on the legalization of crypto assets on the territory of Ukraine, without assigning them the status of legal tender.
According to an official statement, the Verkhovna Rada of Ukraine adopted a new Law on Virtual Assets by a majority of votes. The bill, presented to parliamentarians in September 2021, was initially approved, but after a series of consultative meetings, it was sent for revision.
In the final version of the document, the duties of the regulator of the cryptocurrency market of Ukraine are assigned to the National Securities Commission, which is entrusted with licensing the activities of digital service providers, as well as supervision and financial monitoring of the market.
“The new law provides additional opportunities for business development in our country. Foreign and Ukrainian cryptocurrency companies will be able to work legally, and Ukrainians will get convenient and secure access to the global virtual asset market. Market participants will receive legal protection and the opportunity to make decisions based on open consultations with government agencies. A transparent mechanism for investing in a new class of assets will appear,” said Mykhailo Fedorov, Minister of Digital Transformation of Ukraine.
In early February, it became known that the Ukrainian division of the Binance exchange is working on the launch of a payment card that will allow its owners to pay with cryptocurrencies at any outlets in Ukraine due to the automatic conversion of cryptocurrencies into the Ukrainian hryvnia.
Source: Bits
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