Ukrainian Parliament passes law to legalize cryptocurrency

By The Kyiv Post / September 8, 2021

Update Oct. 5, 2021: President Volodymyr Zelensky vetoed the bill and sent it back to parliament for changes.

A draft law legalizing and regulating cryptocurrency and other virtual assets like tokens in Ukraine has passed the parliament in the second reading on Sept. 8. A total of 276 Ukrainian lawmakers voted for the bill.

Cryptocurrencies have been neither legal nor forbidden in Ukraine because there were no laws that defined them. Ukrainians could buy and exchange virtual currencies, but local courts couldn’t protect them if something went wrong.

If signed by President Volodymyr Zelensky, the law will protect the owners of virtual assets and exchange platforms from fraud. It will also determine how Ukraine will regulate the cryptocurrency market in the future.

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Topics: Cryptocurrencies, Legal, Legislation & regulation, News, Payments & fintech

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The Kyiv Post

Launched in 1995, Kyiv Post is Ukraine’s leading English-language newspaper, produced by a team of Western and Ukrainian journalists. Over the years, the weekly newspaper has led the charge for a free press in Ukraine, and has played roles in the Georgiy Gongadze scandal, the Orange Revolution and other significant Ukrainian events. The Kyiv Post’s IT coverage is sponsored by Looksery, Ciklum, Steltec Capital and SoftServe. The content is independent of the donors.

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