Ukraine is likely to become another country soon that recognizes cryptocurrencies as legal tender, confirms Digital Transformation Minister Oleksandr Bornyakov.
We learned about the new law, which is currently being prepared in parliament for the second reading, and the country's plans to legalize cryptocurrencies from the Ukrainian daily MinFin, which interviewed Oleksandr Bornyakov.
Oleksandr Bornyakov, as Minister of Digital Transformation, sees in the adoption of this law only the positives, which in his opinion include, for example, that if something serious happens in the country, the owners of cryptocurrencies "will at least be able to protect their wealth in virtual property," adding that also expects an increase in services that will accept crypto.
As for how the country wants to control the legality of companies that offer crypto services O. Bornyakov said that in Ukraine they will not need licenses and a work permit will suffice. The main aspects that every company should meet include, in particular, whether it can prove that it has sufficient capital, but also that there are no persons from the sanctioning lists among the founders.
However, the new law envisages the creation of a new regulatory body, namely the National Service for the Regulation of Virtual Assets (NSVA), which will be responsible for crypto companies operating in Ukraine.
Other attractions that the Ministry of Digital Transformation is preparing include, for example, plans to reduce the cryptocurrency tax from the current 19.5% to 5%, as well as the introduction of a national CBDC called E-Hryvnia.