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19 September 2021

Mining Is Not Banned in Ukraine and Does Not Require Licensing, Key Crypto Advisor Says – Mining Bitcoin News

Mining Is Not Banned in Ukraine and Does Not Require Licensing, Key Crypto Advisor Says – Mining Bitcoin News


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The regulatory status of cryptocurrency mining remains somewhat undetermined in Ukraine, even after the recent adoption of the law “On Virtual Assets.” However, albeit unregulated, the minting of digital coins isn’t prohibited either, according to a leading advisor on crypto matters at the Ukrainian parliament.

The virtual assets law introduced a licensing regime for crypto service providers in Ukraine.

Cryptocurrency exchanges, for example, and other platforms working with digital assets will need authorization from the Ukrainian Ministry of Digital Transformation in order to continue to operate within the law.

In the absence of dedicated regulations, the minting of digital currencies is not banned in Ukraine, with the exception of cases where crypto farm operators illegally connect their hardware to the power grid.

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