Ukraine’s president has officially signed the virtual asset bill to legalize cryptocurrencies for income, exchange, and business, as approved by parliament last month. This comes after weeks of financial support from the crypto community for help in fending off Russia’s invasion.
According to a statement from the Ministry of Digital Transformation of Ukraine, the new law creates conditions for a legal virtual asset market in the country. It will be regulated by the National Securities and Stock Market Commission, alongside the National Bank of Ukraine.
The commission will form and implement state policy on crypto, and issue permits to crypto service providers while financially monitoring the area.
The law also provides conditions for the registration of virtual asset companies, and for the formation of the legal field in the virtual asset market.
A different version of this bill was passed by parliament months ago but sent back by President Zelensky due to a provision for a new bo