CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.67% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

Ukraine is the latest country to legalise cryptocurrencies

By Angela Barnes

13:59, 9 September 2021

Roofs and streets of the old city of Lviv
Ukraine has become the latest country to embrace cryptocurrencies Source - Shutterstock.

Ukraine’s parliament has passed a bill to legalise and regulate cryptocurrency and other virtual assets, making it the latest country to embrace the alternative form of payment.

A total of 276 Ukrainian lawmakers voted for the bill that now needs to be signed into law by the country’s president, Volodymyr Zelensky.

According to the document, the law will regulate “legal relations arising in connection with the turnover of virtual assets in Ukraine, defines the rights and obligations of participants in the virtual assets market, the principles of state policy in the field of virtual assets”.

The legislation also protects owners of virtual assets and exchange platforms from any fraud.

Cryptocurrency market

Ukraine plans to open the cryptocurrency market for businesses and investors by 2022, a spokesperson from the Ministry of Digital Transformation told the Kyiv Post.

Before then, the Ukranian parliament must first pass a set of laws and amend the Tax Code and the Civil Code, the report added.

ETH/USD

3,413.04 Price
+2.540% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 6.00

XRP/USD

1.49 Price
+1.470% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 0.01168

DOGE/USD

0.44 Price
+5.750% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 0.0012872

ADA/USD

1.08 Price
+9.150% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 0.00646

Governments accepting crypto

Ukraine’s adoption of cryptocurrencies comes as a growing number of governments have also taken steps to legalise and regulate virtual currencies.

El Salvador, Cuba and Germany have made strides to adopt the payment method – while Panama also unveiled a draft cryptocurrency law this week.

“Today we present the Crypto Law. We seek to make Panama a country compatible with the blockchain, crypto assets and the internet,” Congressman Gabriel Silva announced via his Twitter account. “This has the potential to create thousands of jobs, attract investment and make the government transparent.”

 

-
Sell
Spread
Chg%
Trade
go to page
+1.74%
go to page
+0.44%
go to page
-1.66%
go to page
+1.47%
go to page
+2.54%
go to page
+1.46%
go to page
+3.70%
go to page
-6.82%
go to page
+5.75%
go to page
+1.10%

Read more: PE-backed CoinSwitch Kuber gets 10 million users to become largest in India

Related topics

Rate this article

Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 660,000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading