Ukraine’s president signs law establishing a regulatory framework for crypto

Ukraine’s president signs law establishing a regulatory framework for crypto

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The country’s National Securities and Stock Market Commission will determine policies on digital assets, issue licenses to crypto firms and act as a financial watchdog

Ukraine has legalized the crypto sector — @ZelenskyyUa signed a law. From now on foreign and Ukrainian cryptocurrencies exchanges will operate legally and banks will open accounts for crypto companies. It is an important step towards the development of the VA market in Ukraine. pic.twitter.com/lqqO1J9r1k

— Міністерство цифрової трансформації України (@mintsyfra) March 16, 2022

Cryptocurrency has become a major issue in the country’s current fight against Russia following the invasion on Feb. 24, with many donating directly to Ukraine for humanitarian causes and funding the military. At that time, the National Bank of Ukraine said that it had limited cash withdrawals at banks, fixed the foreign exchange rate of the country’s hryvnia currency and suspended the issuance of electronic money.

The country’s National Securities and Stock Market Commission will determine policies on digital assets, issue licenses to crypto firms and act as a financial watchdog

On Monday, Kuna, Ukraine’s largest crypto exchange, helped launch a donation platform with FTX and Kuna, staking platform Everstake, and the Ministry of Digital Transformation to allow users to send several cryptocurrencies “to support people in their fight for freedom.” According to the website, users have sent more than $54 million in crypto at the time of publication, roughly 27% of the platform’s $200 million goals.

Source: Cointelegraph

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