Cryptocurrency

After El Salvador, now this country has made cryptocurrency legal!

Cryptocurrencies can now be used legally in Ukraine, following the signing of President Volodymyr Zelensky.

Cryptocurrency is legal in Ukraine. Ukraine’s parliament passed a law on 8 September, following El Salvador’s enactment of a law legalizing bitcoin as a legal tender on 7 September. This law will also regulate virtual assets. In the process, Ukraine became the fifth country in the world to pass a law that seeks to legalize and regulate cryptocurrencies. Governments around the world are slowly realizing the importance, future prospects and scope of demand for cryptocurrencies. 276 lawmakers in Ukraine supported the legal draft and voted for a bill to legalize cryptocurrencies. Prior to this there were no set laws defining the legality or value of cryptocurrencies in Ukraine.

Kyiv Post’s Report According to the US, if the law is signed by President Volodymyr Zelensky, it will protect owners of virtual assets and exchange platforms from fraud. Ukraine seems to have placed itself in a safe zone when it comes to dealing with cryptocurrencies within the country.

The report further states that after the introduction of this law, Ukraine has made a good deal for investors and business practice in the future. cryptocurrency The market is planned to be opened. Experts say the approved bill is significant, as it shows virtual assets in an abstract form in the form of electronic data. It also talks about “wallet for virtual currency” and “private key”, some terms that are new to Ukrainian law.

According to this law, the main regulators of the virtual assets market are the Ministry of Digital Transformation of Ukraine, the National Bank of Ukraine and the National Securities Commission. According to the country’s Minister of Digital Transformation Mykhailo Fedorov, the daily turnover of virtual assets in the country is $37,000 (approximately Rs.27 lakh) and it is very popular among the residents of the country. Now, with the existence of this law the system will become more transparent and more and more Ukrainians will come forward to invest in the market. Earlier this week El Salvador became the first country to adopt bitcoin as a legal tender. until September 11 bitcoin price in india 36.7 lakh was Rs.

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