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Tuesday

28 September 2021

Ukraine Passes Law to Legalize Bitcoin, Crypto Businesses

Ukraine Passes Law to Legalize Bitcoin, Crypto Businesses


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Ukraine Passes Law to Legalize Bitcoin, Crypto Businesses.

In that regard, the draft bill has recognized crypto assets under the civil code.

The proposed law allows citizens to open and use bank accounts for transactions with crypto assets such as Bitcoin and Ethereum.

The draft bill clarified that crypto transactions should not contradict any security measures taken by the country’s central bank. In line with FATF guidelines, all crypto exchanges in Ukraine will have to register and implement Anti-Money Laundering and Know Your Customer procedures to prevent money laundering and terrorist financing through crypto.

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