No license needed to mine cryptocurrencies in Ukraine

In a statement issued on Monday, June 25 by the State Service of Special Communication and Protection of Information of Ukraine, the authorities have indicated that they will not apply measures to regulate cryptocurrency mining.

The measure was published in response to the request made by the Office of Effective Regulation (BRDO), which promotes economic freedom and efficient regulations in the country. The authorities have indicated that there will be no regulations despite the doubts that digital currencies still generate and all the issues associated with mining.

Given the strict measures imposed by countries such as the United States and Japan, the miners maintain the refusal to register formally in a control body and avoid any form of publicity about the activity they perform.

Indeed, mining has not yet become official in Ukraine. However, at the moment there will be no prohibition to prevent the mining of the interested parties. The authorities are aware that this activity generates profits of around 100 million dollars a year.

In Ukraine, surveys on the legalization of cryptocurrencies have been carried out, which show support from only 41% of respondents. This is the result of the lack of information regarding the digital currency in the population as well as the restricted access of citizens to the Internet.

M.Pino

Source: Cointelegraph

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