(Twitter) Ukrainian President Volodymyr Zelenskyy has signed into law a bill on virtual assets, making cryptocurrencies legal in the country.
The legalization means that exchanges will operate legally in the country, allowing financial institutions to open accounts for them.
Ukraine’s Ministry of Finance also said it is working to amend the country’s civil and tax codes to fully launch a market for digital assets.
The move to legalize crypto comes amid a rise in the amounts of donations in the form of crypto to the country as it battles the Russian invasion. Over $100 million of crypto donations has been received in just three weeks.
The new law will determine the legal status, ownership, classification, and regulators of digital assets. It also sets the prerequisite registration requirements for digital asset services providers.
BTCUSD is down -1.20%, ETHUSD is down -0.68%.
