During its war with Russia, Ukraine has received 100 million dollars in crypto donations.
The President of Ukraine, Volodymyr Zelenskyy legalized crypto in the market by signing a bill into law of virtual assets and creating an outburst of digital asset donations to support the country’s defense against Russian invasion.
- The Minister of Digital Transformation said in a statement on Wednesday, the law determines the classification, legal status, ownership, and regulators of virtual assets plus setting registration requirements for crypto services providers.
- The digital ministry said in a tweet that Ukraine’s National commission will regulate the security and the stock market. Additionally, exchanges will be able to operate legally and the accounts will be open by banks.
- For the past three weeks, Ukraine has received at least 100 million dollars in crypto donations from the people who want to support its defense and help in funding humanitarian efforts.
- After Zelensky rejected an earlier version of the bill in September 2021, it is now passed through parliament on Feb. 17.
- The minister of Finance is working on amendments to the civil codes and country’s tax to fully launch the market for virtual assets.