News

Ukrainian pro-crypto groups to roll out roadmap for Web3

Friday 18 November 2022 13:43 CET | News

As presented by The Cointelegraph, Blockchain4Ukraine — a group of pro-crypto Ukrainian lawmakers — and the public union Virtual Assets of Ukraine (VAU) have revealed a joint roadmap for promoting and developing Web3 in the country.

 

The document was signed by its co-authors on 14 November, according to regional media cited by Cointelegraph. The roadmap proposes a set of measures for promoting Web3. Among them can be named the launch of a regulatory sandbox for blockchain and Web3 projects, creation of a national blockchain-backed land and realty register, preparation of a ‘blockchain plan’ to rebuild the country after the war, and integration of Ukraine into the European Blockchain Partnership.

VAU and Blockchain4Ukraine also intend to work on a self-sovereign identity pilot project and to seek ways of implementing blockchain into Ukraine’s healthcare and education systems.

CEO of VAU Konstantin Yarmolenko confirmed for Cointelegraph that the governmental memo on the roadmap is being prepared right now and will be signed between the Parliamentary Group "Blockchain4Ukraine, Public Union VAU and Government of Ukraine. The list of potential partners of the roadmap includes civil society and nongovernment organisations as well as business and scientific communities. The group working on the roadmap will prepare a set of bills to promote its initiatives on the legal level.

 

As presented by The Cointelegraph, Blockchain4Ukraine — a group of pro-crypto Ukrainian lawmakers — and the public union Virtual Assets of Ukraine (VAU) have revealed a joint roadmap for promoting and developing Web3 in the country.

Ukraine’s recent history with Web3

In June 2022, Ukraine became the third country outside of the European Union to join the European Blockchain Partnership. The initiative is derived by the EU’s 27 member states to deliver cross-border public services. 

In March 2022, Ukrainian President Volodymyr Zelensky reportedly signed the country’s first major cryptocurrency-related legislation, the bill ‘On Virtual Assets.’ The bill establishes the National Securities and Stock Market Commission of Ukraine and the National Bank of Ukraine as two major regulators of the crypto market. According to Yarmolenko, the bill will adopt some of the pan-European Markets in Crypto Assets (MiCA) framework's norms. 

Since the beginning of the Russian war against Ukraine in February 2022, the country managed to gather over USD 100 million in cryptocurrency donations through its government-curated Crypto Fund of Ukraine.

Ukraine blocked crypto wallet used to fund Russian war efforts

Regulation on crypto feels necessary, since in August 2022, The Security Service of Ukraine (SBU) of the Ukrainian government has seized a cryptocurrency wallet affiliated to raising funds for Russian military campaign.

According to data put forth by Bitcoin.com, The SBU has announced they blocked a crypto wallet operated by a Russian citizen and used to sponsor Russia’s military effort in Ukraine. The wallet had accumulated digital coins worth almost USD 22,000 by the time it was blocked, according to the SBU. Bitcoin.com explains that experts are now working to track the related transactions and transfer custody to Ukraine.


More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: web3, Russia Ukraine War, blockchain, Bitcoin, cryptocurrency
Categories: DeFi & Crypto & Web3
Companies:
Countries: Ukraine
This article is part of category

DeFi & Crypto & Web3