Because of the large number of donations, Ukraine has now without further ado allowed cryptocurrencies in the country.
Ukraine has approved cryptocurrencies as official tender.
President of Ukraine Volodymyr Zelenskyy signed a law that
Cryptocurrencies allowed in Ukraine as a means of payment
. The decision was made as a result of the fact that more and more anti-war donations are reaching the country in the form of cryptocurrencies. Specifically, it is tens of millions of dollars donated by individuals and groups to help the country in the war against Russia.
Simple registration required
The law introduced by Zelenskyy has already been signed by the Ukrainian Parliament and forms the basis for “the legal market of virtual currencies in Ukraine”. Ukrainian banks can open accounts for crypto companies. To do this, the respective companies only have to register with the government. The investments of private individuals should continue to be hedged to the same extent as normal currencies.
Private individuals are also already investing
The Ukrainian Vice-President Mykhailo Fedorov announced via Telegram that the aim was to bring the crypto sector out of the shadowy existence. Cryptocurrencies have proven to be an attractive option to support the army since the beginning of the war. According to Fedorov, in the three weeks since the war began, $54 million in cryptocurrencies have already been donated. Other insiders even report over $100 million in cryptocurrency donations. Ukrainian private individuals have also invested large parts of their assets in cryptocurrencies in order to save them from the financial collapse of the national currency kuna. The legalization of this means of payment should reinforce this trend even further.
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