Ukraine officially deems crypto legal asset class amid war

Ukraine’s Ministry of Digital Transformation announced that the country has officially legalized cryptocurrencies after President Volodymyr Zelenskyy signed the new bill “On Virtual Assets” into law on March 16th.

Ukraine has legalized the crypto sector — @ZelenskyyUa signed a law. From now on foreign and Ukrainian cryptocurrencies exchanges will operate legally and banks will open accounts for crypto companies. It is an important step towards the development of the VA market in Ukraine.
— Міністерство цифрової трансформації України (@mintsyfra) March 16, 2022

Crypto will soon be considered a legal, regulated, asset class in the country which is currently embroiled in a war with Russia. However, the new law does not classify virtual assets as a payment instrument.
The move follows a massive outpouring of crypto donations made to the country to support its efforts in fighting back Russia’s invasion. Ukraine

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