President Volodymyr Zelensky of Ukraine has officially signed into law the structure upon which Ukraine will build bitcoin and other cryptocurrency markets, legalizing the emerging market in a way that is “bringing the crypto sector out of the shadows,” according to a translated press release from the Ministry and Committee for Digital Transformation of Ukraine.
The “Virtual Assets” bill establishes a legal framework for the use of bitcoin and other cryptocurrencies, determining their legal status and classification with regards to ownership and regulation.
More than $100 million worth of cryptocurrency has now been donated to Ukraine since Vice Prime Minister Mykhailo Fedorov publicly called for funds to “contribute to the Ukrainian victory as well as support civil people”.
The bill will allow crypto exchanges and companies to legally operate in Ukraine, with full access and support from the traditional financial sector.
