Ukraine president Zelenskyy signs crypto regulation law

Ukrainian president Volodymyr Zelenskyy signed a law “on virtual assets” on Tuesday, bringing the crypto “out of the shadows” and legalizing it.

The new law appoints the agencies that will regulate the market and establishes rules around virtual assets ownership rights, among other things, according to a statement. Ukrainian and foreign-based cryptocurrencies exchanges will be allowed to operate and banks will be able to open accounts for crypto companies.

“We believe that crypto industry offers new economic opportunities. We will do our best to bring the bright new future closer as soon as possible,” Alex Bornyakov, the deputy minister of digital transformation, said on Twitter about the announcement.

The law had previously been adopted by Ukraine’s parliament on February 17.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy