The latest report reports that the draft law to officially allow the adoption of crypto has passed the second reading in the Ukrainian parliament on September 8. To date, crypto assets do not yet have any legal classification of whether they are legal or prohibited.
According to a Kyiv Post report, 276 Ukrainian lawmakers voted to vote on the digital assets bill under clause 3637. This could allow for wider adoption of crypto and the enactment of crypto rules.
President Volodymyr Zelensky confirmed this and commented that the new law will offer protection to investors of crypto assets and crypto exchanges.
According to the Ministry of Digital Transformation, Ukraine intends to open up the crypto market for businesses and investors by 2022. But to realize this, parliament must approve the proposal.
So far, crypto cannot be used as a transaction medium for the purchase or sale of goods. However, investors can trade on crypto exchanges in the country. The new law will allow crypto and blockchain-related businesses to operate legally in Ukraine, which plans to attract investment into the country.
At the same time, the government also plans to create another regulatory body that will issue permits for crypto companies. According to Mykhailo Fedorov, Minister of Digital Transformation of Ukraine, crypto trading is very popular among Ukrainians, with a daily volume of around $ 37,000.
