Ukraine to Regulate Crypto as Financial Tool, Turning Country Into Crypto Hub

Ukraine still considering best regulation methods for crypto

Wed, 15/08/2018 - 12:51

Ukraine to Regulate Crypto as Financial Tool, Turning Country Into Crypto Hub

Cover image via U.Today

The local regulator’s team plans to submit the necessary draft law for the Parliament to consider by late 2018 or the start of next year.

The head of the state financial regulator calls virtual money a financial instrument, a store of value but does not believe it should be made a legal means of payment. He also believes that the government will turn Kiev into a large crypto market, like that of Switzerland and Malta, thus creating good conditions for crypto and Blockchain startups.

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.