Ukrainian President has signed a virtual assets bill into law to legalize cryptocurrencies

Ukraine’s President Volodymyr Zelenskyy has signed the virtual property bill into law to legalize cryptocurrencies in a country receiving millions of cryptocurrencies in donations for military and humanitarian aid in the fight against Russia.

Zelenskyy legalizes cryptocurrency in Ukraine

Law determining legal status for crypto-assets and market regulators – National Bank of Ukraine and National Commission on Securities and Securities Markets, Ministry of Digital Transformation in a statement on Wednesday.

Foreign and domestic crypto service providers can operate with legal accounts in Ukrainian banks according to the law, the ministry added in a tweet. The Ukrainian parliament passed the bill on February 17, after Zelenskyy rejected the bill’s previous version 2021.

Ukraine has received at least $80 million in crypto donations from DAOs and direct crypto transfers to government wallets. The statement said that the Ministry of Finance is also looking to amend the country’s Civil and Tax Code to develop the digital asset market.

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