Ukraine passes crypto law

Ukraine passes crypto law

Bitcoin itself does not need a regulation. It exists on its own, carried by millions of people who believe it’s a better money.

The regulation is needed by the people who make their living developing crypto-related businesses, as they weave crypto into the existing economies, and their clients of course.

A country that defines a clear legal framework for crypto makes it easier for the industry to develop, with all the jobs and tax money it can produce. It makes even more sense if the country is already highly exposed to crypto and enjoys a thriving IT industry and vast intellectual resources. Ukraine is exactly this type of country.

Today is a good day for Ukrainian crypto industry, as the Parliament passes the law regulating cryptoassets, removing them from the uncertain legal grey area that left crypto companies unprotected in the eyes of the law. The bill defines the cryptoassets and relative notions, as well as providers of crypto services.

It’s still far from the bold El Salvador Bitcoin law, but it’s a good start ?