Ukraine Legalizes Cryptocurrency , While Receiving Millions in Crypto Donations.
Ukraine Legalizes Cryptocurrency , While Receiving Millions in Crypto Donations.
The Verge reports Ukrainian President Volodymyr Zelenskyy has signed a bill legalizing cryptocurrency in the war-torn country.
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The Verge reports Ukrainian President Volodymyr Zelenskyy has signed a bill legalizing cryptocurrency in the war-torn country.
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Ukraine's parliament approved the bill last month, saying it “creates conditions for the launch of a legal market for virtual assets in Ukraine.”.
Legalization of the digital currency comes as Ukraine has reportedly received tens of millions of dollars in cryptocurrency donations to help fight Vladimir Putin's invasion.
Legalization of the digital currency comes as Ukraine has reportedly received tens of millions of dollars in cryptocurrency donations to help fight Vladimir Putin's invasion.
Mykhailo Fedorov, Ukraine’s Vice Prime Minister and Minister of Digital Transformation, took to Telegram, saying the law would “bring the cryptosector out of the shadows.”.
With the beginning of the war, cryptocurrencies became a powerful tool for attracting additional funding to support the Armed Forces of Ukraine.
In more than three weeks of war, the Crypto Fund of Ukraine has raised more than $54 million in cryptocurrencies, Mykhailo Fedorov, Ukraine’s Vice Prime Minister and Minister of Digital Transformation, via Telegram.
The Verge points out that while crypto is poised to help Ukrainians with their war effort.
It's also viewed as potential help for everyday Russians who've been hit by sanctions
