President of Ukraine Volodymyr Zelenski signed the bill on virtual assets, making cryptocurrencies legal in the country.
The country’s Ministry of Digital Transformation stressed today that the law establishes the legal status, classification, ownership and regulators of virtual assets, as well as registration requirements for crypto service providers.
According to the law, the crypto market will be regulated by the National Securities and Exchange Commission of Ukraine. The digital ministry tweeted that exchanges can operate legally and banks will open accounts for them.
According to the announcement made on February 17, the state body is tasked with “forming and monitoring a policy in the field of virtual assets, determining the order of circulation of virtual assets, permitting virtual asset service providers, and auditing and financial monitoring in this area”.
Ukraine announced that it has received $100 million in cryptocurrency donations since the Russian invasion.
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