A bill enacting and regulating crypto-assets and digital assets in Ukraine has passed parliament.
A total of 276 Ukrainian deputies voted for the bill.
Cryptos did not have a legal or illegal status, as there was no law defining crypto assets in the country.
If the bill is approved by President Volodymyr Zelensky, holders of crypto assets and exchanges will be protected from fraud. It will also determine how Ukraine will regulate the crypto-asset market in the future.
A press official from the Ministry of Digital Transformation said that Ukraine plans to open the crypto asset market for businesses and investors by 2022, but the parliament must first pass a series of laws and then amend the Tax Code and the Civil Code.
Although crypto-assets have become legitimate in Ukraine, residents of the country will not be able to use them as a means of payment.
After Ukraine passes laws regulating cryptoassets, it aims to attract investment to the country by making this market more transparent.
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