Ukraine Legalizes Crypto 🇺🇦

President Volodymyr Zelenskyy of Ukraine has approved a new bill that would provide crypto assets with a legal framework and empower national market regulators to regulate them. The measure will open the path for bitcoin to be taxed in the country.

Ukraine had hoped to regulate the industry before the onset of the war, and its national power operator was working on plans to provide crypto miners wider access to its nuclear energy supplies but hopefully, the plans were still successful. 

The law will do the following:

• Grant foreign and Ukrainian crypto exchanges the opportunity to operate legally in the country

• Allow domestic banks to provide accounts for crypto-related companies

• Grant Ukrainians the ability “to protect their savings in virtual assets”

• Provide legal recognition and rights to crypto-assets and their holders

Also, even though The Central bank, the National Bank of Ukraine, will play a co-regulatory role, the country's markets regulator, the National Commission on Securities and Stock Market, will be in charge of the sector's regulation.

This was seen coming after a great donation of Cryptocurrency to support Ukraine 🇺🇦. This is also a chance and opportunity for the Ukrainian people to trade BCH also, as one of the cryptocurrencies.

Thank you for reading!