Ukraine’s Zelenskyy Issues New Crypto Law, Legalizing Bitcoin and Other Cryptocurrencies
Ukrainian President Volodymyr Zelenskyy has signed into law a new bill that legalizes the use of Bitcoin and other cryptocurrencies in the country. The law, which was passed by the Ukrainian parliament on September 8, 2023, aims to create a legal framework for the cryptocurrency industry and provide protection for investors.
The new law defines cryptocurrency as a digital asset that is not issued by a central bank or public authority, and is used as a medium of exchange, store of value, or unit of account. The law also establishes a regulatory framework for cryptocurrency exchanges and other businesses that operate in the cryptocurrency market.
Under the new law, cryptocurrency exchanges will be required to register with the National Bank of Ukraine and comply with anti-money laundering and counter-terrorism financing regulations. The law also establishes a tax regime for cryptocurrency transactions, with capital gains on cryptocurrency investments being taxed at a flat rate of 15%.
The legalization of cryptocurrency in Ukraine is a significant development, as it provides a clear legal framework for the use of digital assets in the country. The law is expected to boost the adoption of cryptocurrency in Ukraine and attract investment in the country’s cryptocurrency industry.
In a statement, President Zelenskyy said that the new law “creates a legal framework for the cryptocurrency industry and provides protection for investors. This will help to attract investment in Ukraine and create jobs.”
The new law is a major step forward for the cryptocurrency industry in Ukraine. It provides a clear legal framework for the use of digital assets and will help to boost the adoption of cryptocurrency in the country.
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