Ukraine passes legislation to recognize and regulate crypto

Ukraine is hoping its new digital asset regulations will attract foreign crypto exchanges to set up shop in the Eastern European nation. Read the full article by: Samuel Haig

Key points:

• Ukraine is furthering its push into crypto by legalizing the operations of crypto exchanges inside the country. Virtual asset service providers will have to show records and structure of their holdings.

• The government wants to push out some of the shadiness in the crypto space by enforcing AML and making the exchanges be up front with their holdings to ease worries. This will also bring an extra tax revenue to the country.

• Previously the Prime Minister has also said they are piloting a project for a CBDC to make salary payments. Ukraine is working with Stellar Lumens to create this CBDC.