NFT Collection The Superlative Secret Society Price, Stats, and Review
Bitcoin Options Block Trading Flashes Bearish Signs Despite BTC Reclaiming $60K
‘They’re Stuck’ – Strike’s Jack Mallers Says US Needs Dollar Liquidity Soon, Sees Bitcoin Outperforming S&P 500
Ethereum vs Solana: Which coin should you choose for long term gains?
Just-In: Metaplanet Stock Price Shoots 13% As Firm Buys More Bitcoin
Bitcoin Price Could Surge 200% To Cross $100,000 If This Happens
U.S. Elections-Linked Bitcoin Options Draw Nearly $350M in Open Interest
Ex-CEO of Kansas bank sentenced to over 24 years for $47m crypto fraud
Bitcoin & Crypto Excluded From Democratic Party’s Latest Policy Agenda Release
Tron’s SunPump effect: 4,844 new meme coins and $246k in revenues!
Cardano Price Eyes 25% Rally As Binace Pay Adds ADA
Chrome Extension “Bull Checker” Steals Tokens from Solana DeFi Users
Bitcoin miners eye $13.9B profit – Here’s how AI can make it happen
Ethereum Transaction Costs Hit Historic Lows: What Does This Mean For ETH?
Crypto Prices Today August 20: BTC Tops $60K, Neo Soars 13%
Bank of Ghana Unveils Proposed Virtual Asset Regulations
Dogecoin Sees 32% Spike In Major Metric That Could Send Price Surging
Bitcoin Miners AI Arbitrage Could Be A Game-Changer, Says VanEck
Urgent Alert: Bitcoin’s (BTC) Short Bounce Is Around The Corner!
What Is MEV and How Does It Impact Your Blockchain Transactions
Bitwise Takes Over ETC Group – Home To Europe’s Largest Bitcoin Fund
Seychelles Approves Bill on Virtual Asset Regulation
Over 80% of Short-Term Bitcoin Holders Underwater — What This Means For BTC
Kamala Harris’s Alleged ‘Crypto Reset’ Absent in Democratic Agenda
Ukraine Has Legalized Bitcoin
The Ukrainian Parliament passed a law that legalizes and regulates bitcoin in the country, providing official clarity on the asset which was not previously clear.
Today, the Ukrainian Parliament passed a law that legalizes and regulates bitcoin in the country. The bill drafted in the fall of 2020 passed with a total of 276 lawmakers supporting the law, and only six against it.
The main purpose behind this bill seems to provide clarification on the asset and protect those who own bitcoin, as it was not previously legal or illegal in the country. Though not illegal, Ukrainian law enforcement agencies treated bitcoin and other virtual currencies as a scam, resulting in bitcoin businesses getting raided, according to Kyiv Post.
Now that this bill is passed, courts can now properly protect individuals and businesses, since it provides tax clarity and officially allows bitcoin businesses to operate within the country. It also sets some guidelines for how Ukraine may try and regulate bitcoin more in the future.
This bill gives the citizens “permission” to own and trade bitcoin and other cryptocurrencies on exchanges. The bill also gives clarity on wallets and what private keys are.
The Parliament is expected to pass and amend their tax and civil codes before the end of the year to officially “open the market” for businesses and investors, according to a Ministry of Digital Transformation spokesman who spoke to the Kyiv Post.
It is important to note that even though bitcoin is now legal in Ukraine, that does not mean that BTC is legal tender in the country. That will require a whole other bill for that to happen in the future.
This is great news and definitely a step in the right direction towards the country eventually adopting a full on bitcoin standard similar to El Salvador. One important thing to note here is that for bitcoin to fully thrive in a country, it’s important not to stamp it with too many laws or regulations, which would end up stifling innovation. Bitcoin is currently very nascent and seems to be on its way to becoming the world reserve currency — it would be a shame to see countries not capitalize on the opportunity at hand because of over-regulation.