Skip to main content
  • The bill was passed on February 17th, although Zelenskyy rejected an earlier version which was approved in September 2021.
  • Ukraine’s tax and civil codes will be edited to incorporate virtual assets, while various regulations will be imposed on cryptocurrencies.
  • Ukraine recently began accepting crypto donations as part of relief fund efforts for its ongoing conflict with Russia, raising over $5.4 million in just eight hours.

President Volodymyr Zelenskyy of Ukraine has signed a bill legalizing cryptocurrency and other digital assets in the country. CoinDesk reports that the bill was passed on February 17th, although Zelenskyy rejected an earlier version which was approved in September 2021.

The Ministry of Digital Transformation released a statement on Wednesday to explain some of the changes, which includes regulations for crypto owners and registration requirements for crypto service providers.

The statement also mentions that the Ministry of Finance is making amendments to Ukraine’s tax and civil codes to allow for a complete launch of digital asset markets.

Scroll to Continue

Recommended for You

Ukraine’s National Commission on Securities and the Stock Market has been tasked with the oversight and regulation of crypto markets. According to a tweet from Ukraine’s digital ministry , crypto exchanges will be able to operate legally and banks will open accounts for crypto companies.

An announcement made by Ukraine’s government on February 17 says the state body is responsible for “shaping and pursuing a policy in the field of virtual assets; determining the order of circulation of virtual assets; issuing permits to virtual asset service providers; and carrying out supervision and financial monitoring in this area.”

The news of virtual asset legalization broke soon after Ukraine began accepting crypto donations as part of relief fund efforts for its ongoing conflict with Russia, raising over $5.4 million in just eight hours.