Ukraine to introduce Virtual Assets Law to legalize Crypto.

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New Virtual Assets Law for ukranians to keep, trade and hodl cryptocurrencies legally.

Ukraine to soon introduce ‘Virtual Assets Laws that is gonna benefit ukranians owning cryptocurrency as it will allow ukranians to hold and declare their cryptocurrency assets legally. It will introduce traders and investors protection. The legislation will make cryptocurency common in ukraine for the government and the society – said Ukraine’s Deputy ministet of Digital Transformation, Oleksandr Bornyakov.

The Cryptocurrency Virtual assets bill was  through at the first presentation in the Ukraine’s parliament, in December. despite criticism from regulators in Kyiv. In June the parliamentary Committee on Digital Transformation recommended its final adoption,  government and business representatives unveiled a roadmap to achieve the integration of crypto assets into the Ukraine economy within the next three years

Oleksandr Bornyakov Said –

1) Cryptocurrency exchanges will need to Acquire License permits to provide Services to ukrainians

2) Virtual assets are future for both ukraine and the World. Ukraine should adhere to international standards for Customers verification and KYC requirements.

3) if crypto assets are a tool of black market and money laundering. It will not become a mainstream technology.

3) ukraine government will make sure to only tax the difference between purchase and sale of crypto assets and is not subject to vat

4) tax said for individuals has been cut down from 19.5% to 5%