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Ukrainian Parliament passes law to legalize cryptocurrencies

Ukrainian Parliament passes law to legalize cryptocurrencies

Сrypto enthusiasts rejoiced as the Ukrainian Parliament (Verkhovna Rada) adopted a law that legalizes cryptocurrency. A large-scale bill "On virtual assets" was developed and approved within a short time. The document will legalize cryptocurrency and virtual hryvnia. 

The proposal on the legal use of cryptocurrency for financial transactions was supported by 276 lawmakers: 6 voted against, 71 deputies abstained. The law regulates the circulation of virtual assets in the country, which allows citizens to use banking services, pay taxes on cryptocurrency income, as well as receive legal protection in courts if their rights are violated.

The Verkhovna Rada’s Telegram channel reported that the law was aimed at regulating circulation and transactions with digital currency, as well as ensuring a unified approach to cryptocurrency trading.

Notably, El Salvador became the first country to adopt bitcoin and accept it as an official form of payment alongside US dollars.   


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