Ukrainian Minister of Cryptocurrency Affairs Mikheylo Fedorov issued a statement Thursday (Feb. 17) that the Ukrainian parliament has passed a law recognizing cryptocurrencies as legal tender
This new law will bring the crypto industry out of uncertainty and it will allow cryptocurrency trading platforms to operate legally. In addition, cryptocurrency assets will be protected.
Bloomberg News reports that Ukraine is preparing to adjust its tax and civil codes to fully support the crypto market.
The Ukrainian parliament’s endorsement of the cryptocurrency comes at a time when there is tension on the border with Russia.
Ukrainians have previously tried to raise money via Bitcoin to counter Russian militarization on the country’s borders.