There has been a remarkable development in Ukraine, which has been under Russia’s unjust invasion attempt since the last days of February. Ukrainian President Volodymyr Zelenski officially approved the cryptocurrency law, which was passed by parliament in February. This paved the way for legal procedures regarding the crypto money aid collected during the war. Let’s take a look at the details of this project together.
When we look at the bill signed by Volodymyr Zelenski, we see that both Ukrainian and foreign companies can open stock exchanges in the country and provide legal services. Moreover, banks will be able to assist domestic and foreign exchanges in order to facilitate transactions. There are no restrictions for investors. Ukrainians will be able to trade cryptocurrencies with peace of mind.
Cannot be used as a payment method
The law, signed by the President, does not pave the way for using cryptocurrencies as a payment method. In other words, Ukrainians will not be able to shop anywhere with crypto money investments. However, it must be said that this is not so important. Because the government is actively using the crypto money fundraising campaign that it started due to the war. Hundreds of millions of dollars of aid are used in exchanges by converting them into physical money. As far as is known, the Ukrainian government helps soldiers and victims with crypto money donations collected from all over the world.
When we look at the details of the law, this move actually witnesses the official recognition of cryptocurrencies. Ukraine has started to use cryptocurrencies to protect its citizens in the extraordinary conditions it is in. This development reveals how important the crypto money world actually is. Although the official currency of the country is not usable in this process, Ukrainians can continue to live through cryptocurrencies.
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