Ukraine Aims to Raise $200M in Bitcoin and Crypto Donations

Ukraine’s Ministry of Digital Transformation has launched the “Aid For Ukraine” project, which aims to raise $200 million in Bitcoin and cryptocurrency donations for the Ukrainian government.

So far, the crypto community has contributed over $55 million to aid Ukraine in its battle against the Russian invasion.

The Ukrainian government developed a website, powered by crypto staking platform Everstake, in collaboration with crypto exchanges FTX and Kuna, to optimize donations.

Ukraine President signed the virtual assets legislation

Yesterday, Ukraine’s President Volodymyr Zelensky signed legislation on virtual assets, subjecting this market to the National Securities and Stock Market Commission and the National Bank of Ukraine’s supervision (NBU).

The legislation establishes the legal status, classification, ownership, and regulators of virtual assets and the registration requirements for crypto service providers. Ukraine’s National Commission on Securities and the Stock Market will oversee the market. Exchanges will be able to function legally, and banks will open accounts for them.

Deputy Prime Minister, Minister of Digital Transformation of Ukraine Mykhailo Fedorov stated: “Since the beginning of the war, crypto assets have become a powerful tool for attracting additional funding in support of the Armed Forces of Ukraine. During the three weeks of the war, the Crypto Fund of Ukraine raised more than $54 million in crypto assets. Today, the president has signed the law on virtual assets. We are launching a legal market for virtual assets in Ukraine and bringing the crypto sector out of the shadows.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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