• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Ukraine crypto
Nexo

Ukraine Crypto: Lawmakers Legalize Cryptocurrencies As Fears Of Russian Attack Grow

Jet Encila by Jet Encila
3 months ago
in Bitcoin, Crypto News, Legislation, News, Trending
0

Legislators have given their nod to the Ukraine crypto bill, making the use of crypto assets in the country easier as Ukraine teeters on the verge of a military confrontation with Russia.

With 272 votes, the Ukrainian parliament gave its thumbs-up for the Law of Ukraine on Digital Assets. The measure required only 226 affirmative votes to pass.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Ukraine’s Vice Prime Minister Mykhailo Fedorovon confirmed Thursday that the country’s Parliament has passed a law legalizing cryptocurrency.

Fedorovon further stated that this measure will safeguard Ukrainians’ assets against possible abuse or fraud.

Fears Surrounding Ukraine Crypto Bill

The Ukraine crypto bill was the government’s second effort at legalization in less than five months.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

In early October, President Volodymyr Zelensky blocked a measure establishing a new independent regulatory committee to regulate cryptocurrency exchanges.

Virtual assets, according to the National Bank of Ukraine, are a possible source of risk.

While there were benefits, there were also concerns associated with money laundering and financing of illegal operations.

BTC total market cap at $765.944 billion in the daily chart | Source: TradingView.com

Related Reading | Bitcoin Donations Are Aiding Ukraine In Fight Against Russia

Earlier, Sarah Breeden, the Bank of England’s executive director for financial stability, warned businesses to be “vigilant” about cryptocurrency.

The bill’s passage on Friday does not make Bitcoin legal currency. At the moment, El Salvador is the only country to have legalized Bitcoin.

Additionally, reports have it that the Securities Commission of Ukraine will now give permits to Bitcoin and cryptocurrency service providers. It will also supervise and monitor the market’s financial activity.

Ukraine is preparing the necessary reforms to its tax and civil legislation to facilitate the establishment of a full-fledged market for virtual assets.

Possible Russian Attack Overshadows Crypto

The Ukraine crypto legalization comes as tensions with Russia have thrown global markets into a tailspin over the last few days because of ongoing jitters of an all-out war.

Near Ukraine’s border, Russia has gathered more than 100,000 troops.

Bitcoin donations have been flowing in to Ukrainian volunteer and even hacker groups as a result of this development.

According to reports, certain groups have supplied government forces with equipment. These organizations received over $550,000 in cryptocurrencies in 2021 alone.

Related Reading | Why Is Ukraine Is Doing An “El Salvador” And Making Bitcoin Legal Tender?

Hackers Use Crypto To Buy Military Hardware

Specifically, activists have used cryptocurrency to procure military equipment, medical supplies, drones, and even facial recognition software that enables users to identify “militants, Russian mercenaries, and war criminals.”

Meanwhile, the Ukrainian government stated that the country ranks fifth globally in terms of overall cryptocurrency users.

The government views the newly enacted law as the first step toward establishing “a leading country for corporate development in this creative industry.”

Featured image from TheNewsCrypto, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jet Encila

Jet Encila

Freelance writing is Jet's other cup of tea. When not on his computer, he unwinds with a cold bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

Panama Pulls Back On Legalizing Crypto, President Wants Compliance With AML Laws

Panama Pulls Back On Legalizing Crypto, President Wants Compliance With AML Laws

3 hours ago
Argentina

Argentina NGO Spearheads Mission To Educate High Schoolers About Crypto

8 hours ago
Shiba Inu

Shiba Inu Extinction: Finder Panel Predicts SHIB To Have Zero Value By 2030

11 hours ago
Russia

Russia To Legalize Cryptocurrency As Form Of Payment, Minister Says

13 hours ago
Bitcoin

Bitcoin Open Interest Nosedives, But All Hope Is Not Lost

21 hours ago
USDC Exchange Reserves Start Fall, Dry Powder For Bitcoin?

USDC Exchange Reserves Start Fall, Dry Powder For Bitcoin?

1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.