President Zelensky signs the bill legalizing crypto assets in Ukraine

According to the law, National Bank of Ukraine, the country’s central bank, and the National Securities and Stock Market Commission will be in charge of monitoring crypto participants and companies.

Amid the ongoing military conflict with Russia, the bill, called the Law on Virtual Assets in Ukraine, which establishes the parameters for the legalization and regulation of Bitcoin and other cryptocurrencies, was finally signed by the Ukrainian president, Volodymyr Zelensky, after approval by the Verkhovna Rada, as Ukraine’s parliament is known, in mid-February.

Zelensky had sent the bill back to the local parliament with a series of amendments that were finally approved by the legislators.

Alex Bornyakov, Deputy Minister of Digital Transformation of Ukraine, confirmed the news on twitter. He wrote:

“The law “on virtual assets” was signed today! Now crypto is legalized in Ukraine. Thank you, President Zelensky for the support. We believe that the crypto industry offers new economic opportunities. We will do our best to bring the new bright future closer as soon as possible.”

With this new law, the holding, classification and legal status of cryptocurrencies in Ukraine is officially recognized, thus representing “another important step in bringing the cryptocurrency sector out of the shadows and launching a legal market for virtual assets in Ukraine”, according to the Ukrainian Ministry of Digital Transformation said in a statement.

Source: Link