Ukraine to legalise Bitcoin and other cryptos

Monday 30 September 2019 00:23 CET | News

Ukraine’s Ministry of Digital Transformation has announced its plans to legalise Bitcoin and other cryptocurrencies.

Currently, cryptocurrencies are not banned in Ukraine, but they have no official status. The decision of this move is part of the country’s modernisation efforts. One of the deputy ministers confirmed that among the agency’s top goals is to legalise cryptocurrencies and to move its state registries to a blockchain-based network.

Ukrainian authorities want to ‘capitalise on miners’ and on cryptocurrency traders. Moreover, the government plans to transfer public registries and documents to a state-run distributed ledger system. Many of these modernisation efforts are being spearheaded by the current Deputy Prime Minister for Digital Information, who wishes to turn the state ‘into a simple service’.

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Keywords: Ukraine, legalisation, Bitcoin, cryptocurrency, modernisation, blockchain, miners, trade, government, distributed ledger
Countries: World