Ukraine has passed a law that creates a legal framework for the cryptocurrency industry in the country
The law allows foreign and Ukrainian crypto exchanges to operate legally.
Banks will be allowed to open accounts for crypto companies.
Ukraine’s President Zelensky has signed the law as Russia’s war on Ukraine continues to highlight the important role that cryptocurrencies have during a time of crisis.
In a tweet, the country’s Ministry of Digital Transformation says this is an important step towards the development of the virtual assets market in Ukraine.
Two national organisations in Ukraine will regulate the market.
The body will be in charge of areas including issuing licenses to crypto businesses and implementing state policy in the industry.
This comes as Ukraine’s government launches an official website where people around the world can donate via crypto to help Ukraine
Caroline Bowler, CEO of BTC Markets joined ticker earlier and says the war in Ukraine shows the use of crypto could be an economic breakthrough.
"They've fallen back to cryptocurrency" CEO BTC Markets @CaroBowler on #crypto supporting the country's defence against #Russia pic.twitter.com/3uWNLVuL2K
— TICKER NEWS (@tickerNEWSco) March 17, 2022
