The Ukrainian Parliament has voted in favor of a bill that will give legal status to Bitcoin and other cryptocurrencies.

Ukraine legalizes cryptocurrency

Ukrainian is the latest country to adopt a regulatory framework for crypto assets.

Ukrainian’s parliament on Thursday voted in favor of the Virtual Assets Law, which gives legal status to all cryptocurrencies and virtual assets. The bill received 300 votes in favor and only two against.

The draft law creates a basic regulatory framework for all virtual assets in Ukraine. He refers to cryptocurrencies like Bitcoin and Ethereum under the term “virtual asset”, defined as any asset that cannot yet be legally used as a payment instrument or traded for assets, other products, products or services.

In addition to creating the legal basis for the integration of crypto assets into the financial and regulatory system of Ukraine, the draft law also confirms the rights of citizens to own and use cryptocurrencies and defines the rights and obligations of all participants in the cryptocurrency market.

While the same law on virtual property was previously passed by Ukraine’s parliament in October, the country’s President Volodymyr Zelensky vetoed it. The bill was then revised to ensure it had the necessary legal mechanisms to implement and meet constitutional requirements.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page