Another country that is aware of the added value of cryptocurrencies for its people is Ukraine, whose deputies have recently approved a law on the legalization of cryptocurrencies.
The Ukrainian daily Kyiv Post reported that the parliament had approved the law at second reading on September 8, adding that up to 276 lawmakers had voted in favor of the law.
At present, it is waiting for the signature of President Volodymyr Zelensky, then Ukraine can continue its plan to open the crypto market for companies and investors.
The plan was to be reported by a spokesman from the Ministry of Digital Transformation, who set a time frame for implementing the plan by 2022. The spokesman also added that parliament must pass another set of laws and amend the tax and civil codes.
Experts in Ukraine think that the passage of the law was a key moment that will help the crypto industry in this country.
It will reduce stereotypical attitudes towards cryptocurrencies and will help them to become normal financial instruments, said Oleg Kurchenko, CEO of virtual asset exchange platform Binaryx
On the other hand, there are also experts who are afraid that too many rules will be created, which could have the opposite effect. This could hamper innovation and put more pressure on crypto companies, which must be in full compliance with the law.