With the approval by the President Volodymyr Zelenskyy crypto is now legal in Ukraine. The decision was made amid the Russia-Ukrainian war. Ukraine received about $100 M in crypto donations for military equipment, humanitarian assistance and general aid.
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The Press Office of the Ministry of digital transformation in Ukraine published a report that says now crypto platforms run lawfully and banking institutions can open accounts for the firms. The Parliament of Ukraine approved the bill on Feb 17.
As the Ministry states, legalizing crypto is an essential step to the evolution of the crypto sector in the country as it creates an environment for the launch of a legal market. Financial authorities will regulate the field. The institution will develop and carry out state policy in the sector. It will decide on the order of turnover of cryptocurrencies, provide licenses to companies, regulate, supervise and monitor operations.
Alex Bornyakov, The Deputy Minister of Digital Transformation posted a tweet that said crypto provides new financial possibilities. He thanked the President for the support.