-->
ukraine

Ukraine President legalizes crypto as donations equal $100M

On Wednesday, Ukraine president Volodymyr Zelenskyy has signed a new law making virtual assets legal. According to the new law, the crypto market will be governed by the National Securities and Stock Market Commission.

Ukraine’s new crypto law came as the total donation to the country equaled $100M. This new law has made crypto trading legal as well as allowed all the crypto exchanges to function legitimately in Ukraine.

Ukraine legalizes Cryptocurrencies:

According to the new crypto law, signed by President Volodymyr Zelenskyy on Wednesday, all crypto exchanges will operate legally in the country and banks will open accounts for crypto companies. The announcement was made from the official Twitter handle of the Ministry of Digital Transformation calling it “an important step towards the development of virtual assets in Ukraine.”

 

Under the new law, the crypto industry will be governed by the National Securities and Stock Market Commission.

The legalization move also boosted the crypto market as Bitcoin was 2.3% up while trading above $40k, and Ethereum 4.2% up trading above 2.6K.

This decision was made after Ukraine received over $100M in donations in crypto from all those who want to help and support Ukraine in the ongoing war with Russia.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Check Also

bitcoin

EU MPs Attack Amazon’s Participation in Digital Euro Project

A cross-party coalition of members of the European Parliament on Tuesday came under fire at …

Leave a Reply

Your email address will not be published.