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Ukraine Parliament Passes Law to Legalize and Regulate Cryptocurrency

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Ukraine has become the latest country to legalize cryptocurrency, just days after El Salvador adopted Bitcoin as legal tender. In an almost unanimous vote on Sept. 8, the Ukrainian Parliament adopted a virtual asset bill making cryptocurrency and other digital assets legal in the country. Known as Bill No. 3637 On Virtual Assets, the draft bill provides clarification on how individuals and businesses utilizing digital currency can be properly protected and also determines how Ukraine will regulate the cryptocurrency market going forward. A total of 276 Ukrainian lawmakers voted for the bill, which now heads to the desk of President Volodymyr Zelensky. As per the official website of the Ukraine Parliament, the new law “provides for a comprehensive settlement of legal relations arising in connection with the circulation of virtual assets in Ukraine, to determine the rights and obligations of participants in the virtual assets market, the principles of state policy in the field of circulation of virtual assets.” The …

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