Ukraine legalizes the purchase and sale of bitcoin

One day after the entry into force in El Salvador of the Bitcoin Law, which establishes the cryptocurrency as legal tender, the Parliament of Ukraine approved its Virtual Assets Law this Wednesday in a second discussion, with 276 votes in favor. With this action, the Eastern European nation becomes part of the crypto assets ecosystem, its rules, risks and possibilities.

The buying and selling of bitcoin and other crypto is now legal in Ukraine. Until the approval of the Virtual Assets Law, which occurred on September 8 in a Parliament vote, bitcoin trading was not legal.

Adopted the Law of #Ukraine on Virtual Assets. The purpose of the Law is to comprehensively regulate the relations arising on the creation, issuance and circulation of virtual assets. pic.twitter.com/EPgIT6uSSq

— Verkhovna Rada (@ua_parliament) September 8, 2021

According to local and international media, with the approval of the bill, the authorities seek to establish the regulatory framework and clear rules for the use of bitcoin, in addition to providing protection to users from crimes related to the crypto universe.

In the approval of the new law, the position of the Ministry of Digital Transformation of Ukraine has had a strong influence, through Minister Mykhailo Fedorov, who has detailed the intentions of establishing an alliance with the Binance exchange, concentrating on the “creation of effective mechanisms for the transfer of rights to any virtual asset or currency using blockchain technology.”

M.Pino

With information from international media, agencies and social networks