Ukraine to Fast Track Its Cryptocurrency Adoption Rate


Ucraniamo: The president of Ukraine, Volodímir Zelenski, seeks to accelerate the regulatory process. It created a Council of Financial Stability of the country, which will assess the sector. The Ministry of the Digital Transformation of Ukraine plans to legalize Bitcoin and other Cryptocurrencies, according to the plans announced on September 27 by a spokesman quoted government body, headed by Mikhail Fedorov, a young man of 28 years.

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The plan of the Ministry was explained by one of the deputy ministers of the entity, Alexander Bornyakov, who was in charge of explaining to the media the projects related to Cryptocurrencies the new government ucraniamo. In that sense, the publication notes that, according to Bornyakov, the Cryptocurrencies should get out of their “grey zone, and begin to pay taxes”, a plan that would cover even the activity of mining. The official also informed about the plans of the new government ucraniamo of transfer records and public documents to an accounting system of distributed, administered by the State. About it, adding that Fedorov you want to convert to the State’s businesses are in-services simple, convenient and non-intrusive, so that when (citizens) to interact with the State to feel comfortable, like (when) you order the services of Uber, Booking (.com) or Airbnb, declared the young manager.

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This goal of technological upgrading requires the adoption of complex systems and decentralized that the Ukrainian government seems to be willing to use. According to reports published by other digital media, the process can take up to three years to complete, but eventually, the industry built around digital assets should become a legitimate part of the economy of the country. It is expected that during this time legislators Ukrainian draft and adopt a law that regulates the initial offerings of coins (ICO), the tokens, the trade with Cryptocurrencies and the use of contracts intelligent.

Source: Cryptocurrency Market

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