Ukraine is the 5th country in 5 weeks that has positively regulated crypto. This is a good sign. In fact, it means that more and more governments are realizing that crypto is here to stay.
Ukraine and crypto
In an almost unanimous vote, a law legalizing and regulating crypto was passed by the Ukrainian parliament. This law was already proposed by President Volodymyr Zelenskyy in 2020, but only now officially adopted.
Before this law was passed, crypto was a bit of a gray area in the Eastern European country. It was basically legal for Ukrainians to buy, sell and own crypto, but companies operating within crypto or owning crypto were often under close government scrutiny.
This was reported because the Ukrainian government saw crypto as a scam. The government kept a close eye on the market and blocked a crypto network in August. The explanation was that the platform could be used to launder money, something the government did not agree with.
So now their thoughts on crypto seem to have completely turned around. As of now, they accept and regulate crypto. It is not yet the case that, like in El Salvador, they are adopting crypto as a national means of payment, but who knows, maybe we will see that in the future.
So it seems that more and more governments, administrative organizations and other people with influence are realizing the power of crypto and that it really will become part of our lives. Maybe it’s partly because of the pressure they experience, from other parties, but all in all it’s a good development.
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