As it became known, the Verkhovna Rada of Ukraine adopted in the second reading and in general the draft law on virtual assets, which provides for the legislative regulation of the digital assets and cryptocurrency market.
The so-called “law on bitcoin” (unofficial name) should regulate relations in terms of the creation, release into circulation of virtual assets, as well as transactions with them. 276 People’s Deputies voted for the adoption of the draft law “On Virtual Assets” (No. 3637).
The purpose of the bill is also to provide a comprehensive legislative regulation of the principles of the virtual assets market, in particular, to ensure a unified approach to organizing trading in virtual assets. In addition, the law will contribute to the development of the infrastructure of the virtual asset market, ensuring its openness and efficiency.
Excerpt from the explanatory note
On September 7, 2021, El Salvador became the first country in the world to recognize Bitcoin as a legal tender. Soon after the announcement of the legalization of bitcoin, President of Salvador Nayib Bukele reported problems with the country’s official bitcoin wallet Chivo. It had to be temporarily disabled due to bandwidth issues. It is believed that this could be the reason for the fall in the bitcoin rate.
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