Crypto Regulations In Ukraine: How is the Government Responding to Cryptocurrencies
Ukraine has taken an important step towards the development of the Cryptocurrencies Market, by legalizing the Crypto sector in the country. President Volodymyr Zelensky signed the law on March 16, 2022. Alongside, the President has removed many taxes on virtual assets and made a uniform 2 percent tax on the overall transactions.
These foreign and Ukraine cryptocurrency exchanges can operate legally and the banks are allowed to open accounts for crypto companies of Ukraine. This law is rewarded as the very first law out of many needed which define digital crypto-assets and their roles in the Ukraine market. Also, helps in structuring the current gray market activities of crypto.
Ukraine Crypto Regulation 2022
30–04–2022: Ukraine launches website for NFT and Crypto donations.
According to the website, all NFT proceeds will go to the non-profit Aid for Ukraine. The funds will be used to support humanitarian aid programs in the country. If you are not holding NFT, you can choose to donate crypto on the website too.
30–04–2022: Elon musk was the first public figure to enter Ukraine NFT museum’s ‘Hall of Fame.
Elon Musk, the world’s richest person, is the first inductee into Ukraine NFT museum’s ‘Hall of Fame. The virtual gallery of NFT-based artworks will feature celebrities and public figures who have supported Ukraine amid the ongoing war with Russia.
25–04–2022: Ukraine has banned residents from buying crypto using the country’s currency.
Ukraine has announced that it is banning residents from buying digital assets using the Ukrainian Hryvnia. Those who want to buy crypto will have to use foreign currencies and even then purchases are going to be limited to 100,000 Ukrainian hryvnia a month which is about $3400 at current rates.
16–03–2022: Ukraine officially legalizes Bitcoin and other cryptos after Zelenskyy signs new law.
Ukrainian president Volodymyr Zelenskyy has enacted a law officially making cryptocurrencies legal in the besieged country. The president