• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Cryptos

Ukraine legalizes cryptocurrencies

Ajibola Akamo by Ajibola Akamo
September 9, 2021
in Cryptos, Markets
Ukraine legalizes cryptocurrencies
Share on FacebookShare on TwitterShare on Linkedin

The Ukrainian Parliament, the Verkhovna Rada, has adopted a virtual asset legislation regulating foreign and domestic cryptocurrency exchanges operating from within the country.

Yesterday, the Ukrainian Parliament adopted the draft law “On Virtual Assets,” Bill No. 3637, which legally recognizes cryptocurrency in the country for the first time and gives Ukraine the ability to legally regulate digital currency.

According to the bill draft, “This Law regulates legal relations arising in connection with the turnover of virtual assets in Ukraine, defines the rights and obligations of participants in the virtual assets market, the principles of state policy in the field of virtual assets.”

RelatedStories

Elon Musk’s X ranked as the most harmful social media platform in Nigeria 

X hit by massive cyberattack traced to Ukraine area– Elon Musk 

March 11, 2025
Bitcoin falls below $61,000 following looming activity on Mt. Gox exchange 

Bitcoin drops below $91K as Trump’s tariffs spark inflation fears 

February 25, 2025

The legislation is based on the existing standards developed by the intergovernmental policy-making organization, Financial Action Task Force on Money Laundering (FATF). The Ukraine’s Ministry of Digital Transformation will be tasked with overseeing the implementation of the new virtual asset regulation and guiding the industry’s growth, in adherence with “international standards.”

What they are saying

Anastasia Bratko of the Ministry of Digital Transformation said the law allows companies to launch virtual asset markets in Ukraine and enables banks to “open accounts for crypto companies.” She stated, “Ukrainians will also be able to declare their income in virtual assets. The law guarantees judicial protection of the rights to virtual asset owners.”

An announcement from the ministry emphasized that “the country will receive additional tax revenues to the budget, which will be paid by crypto companies.” The announcement further stated, “The adopted norms establish rules for service providers related to the circulation of virtual assets and contribute to the market’s de-shadowing.”

Virtual asset service providers (VASPs) “must have an impeccable business reputation” and will be required to disclose their ownership structure to identify their ultimate beneficial owners. Internal anti-money launder measures must also be maintained by VASPs.

Deputy Minister of Digital Transformation of Ukraine, Oleksander Bornyakov, highlighted provisions contained in the legislation to attract “foreign exchange to the Ukrainian market,” stating, “It will become a powerful incentive for the further development of the crypto-sphere in Ukraine. Banks will open accounts for them and conduct transactions with a new class of assets. I am sure that society, business and the state will benefit from the legalization of the new sector of the economy.”

Bottomline

Despite the passing of the bill, they still can’t be used to pay for goods and services. It does, however, allow for blockchain companies to legalize individual business processes and work directly with the current banking system. Citizens can also freely buy and trade cryptos as things currently stand. The hryvnia remains the only legal currency.

Tags: CryptocurrenciesUkraine
Ajibola Akamo

Ajibola Akamo

Ajibola Akamo is an Investment Analyst, Financial Analyst, Economist and Accountant. You may contact him via his email ajibolaakamo@yahoo.com

Related Posts

Elon Musk’s X ranked as the most harmful social media platform in Nigeria 
Sectors

X hit by massive cyberattack traced to Ukraine area– Elon Musk 

March 11, 2025
Bitcoin falls below $61,000 following looming activity on Mt. Gox exchange 
Cryptos

Bitcoin drops below $91K as Trump’s tariffs spark inflation fears 

February 25, 2025
Donald Trump pledges to make US the crypto capital of the world at the Bitcoin conference
Cryptos

Bitcoin, other cryptocurrencies retreat as Trump’s speech is silent on digital assets 

January 21, 2025
Fake Ukrainian Cops defraud businessman of $250,000 in Crypto  
Cryptos

Fake Ukrainian Cops defraud businessman of $250,000 in Crypto  

September 3, 2024
Spot Ethereum ETFs record a $107 million net inflow on its first day of trading  
Cryptos

Spot Ethereum ETFs record a $107 million net inflow on its first day of trading  

July 24, 2024
FG detains two Binance Executives over alleged FX manipulations  
Cryptos

Binance says Nigerian customers can use its other services after halting NGN 

March 5, 2024
Next Post
Don’t Miss: By July 2023 oil production will hit 1.8 million barrels per day - Mele Kyari

NNPC posts profit growth in 2020 despite 20% decline in topline

Comments 1

  1. Taiwo Adeyinka Adedolapo says:
    September 9, 2021 at 4:07 pm

    Cryptocurrency is encryption of algorithm of data set to be a base of information gathered which my be either virtual or datum of data control and transaction languages. These thus has to do with bundle of data to supplement information gathered in a broad or spread sheets in template of prototype to be found

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Flutterwave powers business growth in Cameroon with fully licensed payment services 
  • Value Hubspot is helping Nigerians tap into online jobs, loans, and business opportunities 
  • FG responds to US prohibition of citizens’ travel to Nigerian military site, government venues 

Follow us on social media:

Recent News

Flutterwave powers business growth in Cameroon with fully licensed payment services 

Flutterwave powers business growth in Cameroon with fully licensed payment services 

June 23, 2025
Value Hubspot is helping Nigerians tap into online jobs, loans, and business opportunities 

Value Hubspot is helping Nigerians tap into online jobs, loans, and business opportunities 

June 23, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics