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The President of Ukraine, Volodymyr Zelenskyy, who has legalized cryptocurrencies in the country, signed the digital assets bill into law. This comes amid a wave of digital asset support to support the country's defense in the Russian offensive.
The Ministry of Digital Transformation said in a statement on Wednesday (March 16), the law defines the legal status, classification, ownership and agencies governing digital assets, as well as sets registration requirements for cryptocurrency service providers,
The Ministry of Digital Transformation also shared on Twitter that the market will be coordinated by the National Committee on the Stock Market of Ukraine. Transactions can be made legally, and banks will open accounts for them.
According to a government statement on February 17, the state has a duty to "shape and pursue policies in the field of digital assets; determine the order of circulation of virtual assets; granting licenses to those providing virtual asset services, conducting financial supervision and administration in this area."
Ukraine has received at least $100 million in crypto donations in the past three weeks from people who want to support the country's defense and help raise funds for humanitarian organizations.
The bill was passed by parliament on February 17 after Zelensky rejected an earlier version approved in September 2021.
The statement added that the Ministry of Finance is working to amend the tax and civil code to fully launch the market for digital assets.
