Is Bitcoin Legal in Ukraine?
Despite a number of legal hurdles, Bitcoin is now fully legal in Ukraine, thanks to a new law. In September, the parliament passed a bill making Bitcoin service providers and users subject to a clear set of rules and regulations. It also outlines the fines that can be imposed if these rules are not followed. The country's National Securities Commission is also tasked with monitoring the cryptocurrency market, ensuring that the cryptocurrency is not misused or abused. The current crypto legislation in Ukraine does not allow for payment using Bitcoin, and does not even put it on equal footing with the national currency, the hryvnia. But it is part of a larger effort to embrace cryptocurrency. The government has said it plans to open the country's cryptocurrency market to businesses by 2022. Meanwhile, in neighboring Russia, the government has been touting its crypto credentials to Silicon Valley investors. The government of Ukraine is taking steps to protect digital currenc...