In one of our previous articles, we wrote about the intention of
the Ministry of Digital Transformation to legalise cryptocurrencies
in Ukraine. On September 8, 2021, after almost a year of changes
and adjustments, the Parliament adopted the Law "On virtual
assets", supported by 276 votes, which will lay down a
background for the cryptocurrency market.
According to the Minister of Digital Transformation, the daily
turnover of virtual assets in Ukraine is more than $37M. For
example, the daily trade volume of a private exchange – Kuna
is more than $1M. Such operations are not regulated and taxed by
authorities due to their nature.
The Law will set up a legal environment by defining basic terms
and meanings related to "virtual currency", "virtual
assets", "tokens", etc. It also allows people and
companies to own and trade cryptocurrencies in the market. Such an
initiative will open new opportunities for investors and
businesses.
