Ukraine legalisescryptocurrency to fight Russian invasion

Kiev (TIP): Ukraine has legalisedcryptocurrency as the country received donations worth tens of millions of dollars from individuals and groups to help it fight the Russian invasion. Ukraine President VolodymyrZelensky has signed the law that creates conditions for further formation of the legal field in the market of virtual assets. The new market will be regulated by the National Commission on Securities and Stock Market. The signed law determines the legal status, classification and virtual assets ownership rights and determines the list of providers of virtual assets and conditions of their registration. Until now, the Ministry of Digital Transformation has been developing the legal framework in this area. “The Ministry of Digital Transformation is also actively working to amend the tax and civil codes of Ukraine to fully launch the virtual assets market,” the government said in a statement. The signing of the crypto law is an important step towards bringing the cryptocurrency sector out of the shadows and launching a legal market for virtual assets in Ukraine. (IANS)