www.kyivpost.com
Open in
urlscan Pro
2001:41d0:203:19ab::1
Public Scan
URL:
https://www.kyivpost.com/technology/parliament-passes-law-to-legalize-cryptocurrency-in-ukraine.html
Submission: On September 10 via api from US — Scanned from DE
Submission: On September 10 via api from US — Scanned from DE
Form analysis 8 forms found in the DOM
GET /
<form action="/" method="GET" class="search-form" id="mega-menu-search-form">
<div class="input-block">
<input name="s" type="text" id="mega-menu-search-input" autocomplete="off" tabindex="-1" placeholder="Search">
<button type="submit" class="go-search btn-red">Go</button>
</div>
</form><form class="widget-sub-form" action="">
<div class="widget-subscribe">
<span class="form-success-icon"></span>
<span class="form-success"></span>
<input id="mce-EMAIL" type="email" placeholder="Sign up for our Ukraine Digest" name="EMAIL">
<div style="position: absolute; left: -5000px;" aria-hidden="true"><input id="mce-field2" type="text" name="b_ba7e4c94c362fc11307fd8cf3_50a8dda26f" tabindex="-1" value=""></div>
<button class="btn btn-red">ok</button>
</div>
<div class="error-msg"> Please, fill in the Email field </div>
</form><form action="" class="subscribe-form">
<div class="title">
<span class="form-success-icon"></span>
<span class="form-call-to-action">Subscribe to Kyiv Post Ukraine Digest</span>
<span class="form-success"></span>
</div>
<input id="mce-EMAIL" placeholder="Email:" type="email" name="EMAIL">
<div style="position: absolute; left: -5000px;" aria-hidden="true"><input id="mce-field2" type="text" name="b_ba7e4c94c362fc11307fd8cf3_50a8dda26f" tabindex="-1" value=""></div>
<button>Subscribe</button>
<div class="error-msg"> Please, fill in the Email field </div>
</form>POST
<form enctype="multipart/form-data" method="post" action="" id="decomments-add-picture-form" class="decomments-add-picture-form">
<div class="decomments-load-img">
<img class="lazy" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201%201'%3E%3C/svg%3E" data-src="" alt="">
</div>
<div class="decomments-addfile-field">
<input type="file" name="decom_pictures[]">
<span class="decomments-addfile-cover">Choose file</span>
</div>
<button class="decomments-button decomments-button-addfile-send">Submit</button>
<button onclick="decom.closeModal(); return false;" class="decomments-button decomments-button-addfile-cancel">Cancel</button>
<button onclick="decom.removeAttachment(this); return false;" class="decomments-button decomments-button-del-image"><i class="icon-bin"></i></button>
</form>GET /
<form action="/" method="GET" class="search-form" id="_modal-search-form">
<div class="input-block">
<span class="icon-search"></span><input name="s" type="text" id="_modal-search-input" autocomplete="off" tabindex="-1" placeholder="I'm looking for ...">
<button type="submit" class="go-search btn-red">Go</button>
</div>
</form><form id="lgnztr-lostpassword">
<div class="inp-row-2">
<div class="inp-row full-width">
<label for="" class="lbl-block">Email <span class="redstar">*</span></label>
<input type="text" class="inp validate_inp" id="lgnztr-lostpassword-email" name="mail" data-required="true" data-type="email">
<input type="hidden" id="lgnztr-lostpassword-cookiehash" name="cookiehash" value="02c887af92e2e2e697e74bf65abd5a9b">
</div>
</div>
<div class="form-txt"> Already have an account? <a class="open_form_signin" href="">Sign In</a>
</div>
<button type="submit" class="btn-red btn-big2"> Reset password </button>
</form><form id="lgnztr-login">
<div class="inp-row-2">
<div class="inp-row">
<label for="" class="lbl-block">Email <span class="redstar">*</span></label>
<input type="text" class="inp validate_inp" id="lgnztr-login-user" name="mail" data-required="true" data-type="email">
</div>
<div class="inp-row">
<label for="" class="lbl-block">Password <span class="redstar">*</span></label>
<input type="password" class="inp validate_inp" id="lgnztr-login-pass" name="password" data-required="true">
</div>
</div>
<div>
<div style="font-weight:bold" class="the_champ_social_login_title">Or connect with :</div>
<div class="the_champ_login_container">
<ul class="the_champ_login_ul">
<li>
<i class="theChampLogin theChampFacebookBackground theChampFacebookLogin" alt="Login with Facebook" title="Login with Facebook" onclick="theChampInitiateLogin(this)"><ss style="display:block" class="theChampLoginSvg theChampFacebookLoginSvg"></ss></i>
</li>
<li>
<i id="theChampGoogleButton" class="theChampLogin theChampGoogleBackground theChampGoogleLogin" alt="Login with Google" title="Login with Google" onclick="theChampInitiateLogin(this)"><ss style="display:block" class="theChampLoginSvg theChampGoogleLoginSvg"></ss></i>
</li>
</ul>
</div>
</div>
<div style="clear:both"></div>
<div class="form-txt"> Don't have an account? <a class="open_form_register" href="/registration">Register</a>
</div>
<div class="form-txt">
<a class="open_form_forgot" href="/forgot-your-password">Forgot your password?</a>
</div>
<input type="hidden" name="redirect_to" id="lgnztr-login-redirect-to" value="">
<div class="inp-row inp-row-checkbox">
<div class="checkbox-wrap">
<input id="rememberme" name="rememberme" type="checkbox" value="forever">
<label for="rememberme">Remember me</label>
</div>
</div>
<button type="submit" class="btn-red btn-big2"> Sign In </button>
</form><form id="lgnztr-register" novalidate="">
<div class="inp-row">
<div class="inp-row">
<label for="" class="lbl-block">First Name <span class="redstar">*</span></label>
<input type="text" class="inp validate_inp" id="lgnztr-reg-user-first-name" name="firstname" maxlength="25" data-required="true">
</div>
<div class="inp-row">
<label for="" class="lbl-block">Last Name <span class="redstar">*</span></label>
<input type="text" class="inp validate_inp" id="lgnztr-reg-user-last-name" name="lastname" maxlength="25" data-required="true">
</div>
<div class="inp-row">
<label for="" class="lbl-block">Email <span class="redstar">*</span></label>
<input class="inp validate_inp" id="lgnztr-reg-email" type="text" name="mail" data-required="true" data-type="email">
</div>
</div>
<div>
<div style="font-weight:bold" class="the_champ_social_login_title">Or connect with :</div>
<div class="the_champ_login_container">
<ul class="the_champ_login_ul">
<li>
<i class="theChampLogin theChampFacebookBackground theChampFacebookLogin" alt="Login with Facebook" title="Login with Facebook" onclick="theChampInitiateLogin(this)"><ss style="display:block" class="theChampLoginSvg theChampFacebookLoginSvg"></ss></i>
</li>
<li>
<i id="theChampGoogleButton" class="theChampLogin theChampGoogleBackground theChampGoogleLogin" alt="Login with Google" title="Login with Google" onclick="theChampInitiateLogin(this)"><ss style="display:block" class="theChampLoginSvg theChampGoogleLoginSvg"></ss></i>
</li>
</ul>
</div>
</div>
<div style="clear:both"></div>
<div class="form-txt"> Already have an account? <a class="open_form_signin" href="/sign-in">Sign In</a>
</div>
<button class="btn-red btn-big2" type="submit" id="loginizator-login-btn"> Register </button>
</form>Text Content
Sign in Subscribe
Friday, September 10, 2021
Go
* Home
* Ukraine
* Business
* Technology
* Op-Ed
* Lifestyle
* Multimedia
* Hot topics
* Tip us off
* Investigations
* KP BrandStudio
* Host your event in the Kyiv Post studio!
* Russia
* World
* World in Ukraine
* Sports
* Business Wire
* Dying for truth
* Ukraine on the Brink
* Online discussions
* KyivPost Doing Business 2021
* Journalism of tolerance
* Top 30 Under 30
* Voices of Ukraine
* Donation
* Surviving Ilovaisk
* Then & Now
* All News
* Exclusives
* Newspaper & Supplements
* Newspaper distribution map
* Calendar
* Shop
* Classifieds
* Subscribe
* Subscribe to Ukraine Digest
* Advertise
* Contact us
* About Us
* Support the Free Press Foundation
* Tiger Conference
* Ukraine
* Business
* Tech
* Opinion
* Lifestyle
* Video
* Ukraine Digest
* Investigations
* Tip us off
* More
* Ukraine
* Business
* Tech
* Opinion
* Lifestyle
* Video
* Ukraine Digest
* Investigations
* Tip us off
* Hot topics
* Host your event in the Kyiv Post studio!
* KyivPost Doing Business 2021
* Fact-checking 2019 presidential election
* Multimedia
* Eastern Europe
* World
* World in Ukraine
* Sports
* Dying for truth
* Ukraine on the Brink
* Online discussions
* Decade in Review
* Journalism of Tolerance
* Top 30 Under 30
* Voices of Ukraine
* Donation
* Surviving Ilovaisk
* Then & Now
* Exclusive news
* Newspaper & Supplements
* Newspaper distribution map
* Shop
* Advertise
* Calendar
* Contact us
* About Us
* Support the Free Press Foundation
* Employment
* Business Wire
* KP BrandStudio
JAVASCRIPT IS NOT ENABLED IN YOUR WEB BROWSER.
For full functionality of this site it is necessary to enable JavaScript.
Here are the instructions how to enable JavaScript in your web browser.
* Hot Topics Russia's War Against Ukraine
It started in 2014 and hasn't ended.
* Hot Topics Kyiv Post Classics
The best stories from 26 years
* Hot Topics Coronavirus
The pandemic & Ukraine
* Hot Topics Ukraine-U.S. Relations
The latest news in an important bilateral relationship
COVID-19 IN NUMBERS:
UKRAINE
CASES: 2,310,554
DEATHS: 54,251
RECOVERED: 2,218,873
WORLDWIDE
CASES: 224,265,652
DEATHS: 4,624,257
RECOVERED: 200,850,168
Share Tweet Pocket Add to Bookmarks
You're reading: Parliament passes law to legalize cryptocurrency in Ukraine
Sponsors
The Kyiv Post’s technology coverage is sponsored by Ciklum, ELEKS, Intellias,
Intetics, Itera, Parimatch Tech, SimCorp, SoftServe and TECHIIA. The content is
independent of the donors.
Technology Parliament passes law to legalize cryptocurrency in Ukraine
Back to Home
Share
Tweet
Pocket
Print
Mail
Bookmark +
PARLIAMENT PASSES LAW TO LEGALIZE CRYPTOCURRENCY IN UKRAINE
By Daryna Antoniuk.
Published Sept. 8 at 6:56 pm
Parliament passed a law on Sept. 8 that makes cryptocurrency and other virtual
assets like tokens, legal in Ukraine. Although virtual assets will be
legitimized in Ukraine, they cannot be used as a means of payment or be
exchanged for goods or services.
Photo by AFP
Popular
on social media
Yermak: Ukraine will do everything to evacuate its citizens in Afghanistan
Reuters: Second ethics panel punishes ex-FBI lawyer for misconduct Financial
Times: 5 books that help explain what is happening in Afghanistan
A draft law legalizing and regulating cryptocurrency and other virtual assets
like tokens in Ukraine has passed the parliament in the second reading on Sept.
8.
A total of 276 Ukrainian lawmakers voted for the bill.
Cryptocurrencies have been neither legal nor forbidden in Ukraine because there
were no laws that defined them. Ukrainians could buy and exchange virtual
currencies, but local courts couldn’t protect them if something went wrong.
If signed by President Volodymyr Zelensky, the law will protect the owners of
virtual assets and exchange platforms from fraud. It will also determine how
Ukraine will regulate the cryptocurrency market in the future.
Ukraine plans to open the cryptocurrency market for businesses and investors by
2022, a pressperson from the Ministry of Digital Transformation told the Kyiv
Post, but the parliament has to pass a set of laws and amend the Tax Code and
the Civil Code first.
The bill approved on Sept. 8 is crucial in this process, experts said. It
defines virtual assets as intangible assets expressed in a form of electronic
data. It also explains what a wallet for virtual currency and a private key is —
these terms have never been used in Ukraine’s legislation.
Although virtual assets are now legitimate in Ukraine, Ukrainians cannot use
them as a means of payment or exchange for goods or services — only the official
national currency, the hryvnia, has this power. However, Ukrainians can own,
exchange and trade cryptocurrencies using local or foreign exchange platforms
registered in Ukraine.
The law on virtual assets allows crypto businesses to work officially in Ukraine
and pay taxes here. To register a crypto business, a company needs to prove that
it is transparent and has an excellent reputation. The permission to start a
business costs over $3,100. To prevent profit laundering and financial
terrorism, crypto businesses have to declare their activity to the state.
Ukraine’s Ministry of Digital Transformation, as well as the National Bank of
Ukraine and the National Securities Commission, are the main regulators of the
virtual assets market, according to the law. The government also wants to create
another regulator that will issue permits for crypto companies in Ukraine.
After passing the set of laws that regulate cryptocurrency and other virtual
assets Ukraine wants to make this market more transparent and attract investment
to the country.
Cryptocurrency is hugely popular among Ukrainians — the daily turnover of
virtual assets in the country accounts for $37,000, according to Mykhailo
Fedorov, Ukraine’s Minister of Digital Transformation. If cryptocurrency becomes
legal and therefore safer, more Ukrainians will invest in it, Fedorov said.
“Only a few countries in the world have legalized crypto assets — Germany,
Luxembourg, Singapore. Ukraine will be one of them,” he added.
Recognizing cryptocurrency is vital for the booming industry, experts said. “It
will reduce stereotypical attitudes towards cryptocurrencies and will help them
to become normal financial instruments,” according to Oleg Kurchenko, CEO of
virtual asset exchange platform Binaryx.
However, experts are worried that too many rules could stifle innovation and put
pressure on businesses. Some crypto investors could leave the country because
they do not trust state initiatives, Kurchenko told the Kyiv Post.
Those who opt to stay hope that new legislation will reduce the number of
unjustified raids on crypto businesses initiated by Ukraine’s Security Services.
Ukrainian law enforcement agencies deem virtual money a scam and conduct raids
of the businesses, often confiscating expensive equipment without any grounds.
The country doesn’t have a state register of data centers used for crypto mining
yet, thus many specialists work in shadow or move abroad to avoid raids.
According to Fedorov, the new law will change this. “Favorable conditions will
allow companies to register in Ukraine, rather than abroad. The entrepreneurs
will pay taxes to the budget, but will be protected by the state,” he said.
The Kyiv Post’s technology coverage is sponsored by Ciklum, ELEKS, Intellias,
Intetics, Itera, Parimatch Tech, SimCorp, SoftServe and TECHIIA. The content is
independent of the donors.
Tags:
cryptocurrency virtual assets
Share Tweet Pocket Add to Bookmarks
Get daily news updates
Breaking news about Ukraine
ok
Please, fill in the Email field
Get unlimited access to all of the exclusive content SUBSCRIBE If you’re already
a subscriber sign in here
Recommended
Ukraine’s startup Weld Money to issue … Sept. 1, 4:57 pm
Security Service uncovers crypto mining farm in … July 12, 1:47 pm
Ukraine ranks 10th globally in bitcoin … June 16, 1:24 pm
Dynamo Kyiv to launch its own cryptocurrency Jan. 8, 10:33 am
Ukrainian officials buy cryptocurrency worth … Jan. 22, 2018, 4:37 pm
MOST READ
Last 30 days Last 30 days Sept 2021 Aug 2021 July 2021 June 2021 May 2021
Kyiv Post webinar: Legalization of gambling in … Aug. 17, 3:51 pm
A new stage in the development business of LOGOS … Sept. 3, 10:15 am
COVID-19 in Ukraine: 2,197 new cases, 53 new … Sept. 7, 9:00 am
What Afghanistan’s fall means for Ukraine, another … Aug. 16, 11:19 pm
Watch Ukraine’s Independence Day parade Aug. 24, 10:10 am
Murder investigation opens into death of Kryvyi … Aug. 15, 8:04 pm
Military technology to see at Ukraine’s 30th … Aug. 19, 7:38 pm
ADD COMMENT
PLEASE SIGN IN TO COMMENT:
Login
Email me when new comments appear here Replies to my commentsAll comments
Sorry, you must be a subscribed and logged in to post a comment.
Send Cancel
More in this section
Sept. 1, 4:57 pm
UKRAINE’S STARTUP WELD MONEY TO ISSUE CRYPTOCURRENCY CARDS IN OCTOBER
July 12, 1:47 pm
SECURITY SERVICE UNCOVERS CRYPTO MINING FARM IN VINNYTSIA ALLEGEDLY STEALING …
June 16, 1:24 pm
UKRAINE RANKS 10TH GLOBALLY IN BITCOIN INVESTMENTS, EARNS $400 MILLION IN 2020
Jan. 8, 10:33 am
DYNAMO KYIV TO LAUNCH ITS OWN CRYPTOCURRENCY
Jan. 22, 2018, 4:37 pm
UKRAINIAN OFFICIALS BUY CRYPTOCURRENCY WORTH ALMOST $7 MILLION
Jan. 20, 2018, 9:00 am
MEET UKRAINIANS WHO MAKE MONEY OFF CRYPTOCURRENCIES
Jan. 17, 2018, 3:20 pm
ANALYSTS: UKRAINE, RUSSIA WOULD SUFFER MOST IF BITCOIN CRASHED
Nov. 13, 2017, 1:04 pm
UKRAINE’S MURKY REAL ESTATE MARKET MAY SOON FACE BLOCKCHAIN REVOLUTION
Sept. 5, 2017, 3:09 pm
SOCIAL NETWORK NIMSES LAUNCHES ONLINE TRADING PLATFORM FOR ITS VIRTUAL CURRENCY
Aug. 10, 2017, 5:49 pm
POLICE FIND ILLEGAL BITCOIN FARM AT UKRAINIAN STATE INSTITUTE
Subscribe to Kyiv Post Ukraine Digest
Subscribe
Please, fill in the Email field
TOPICS
* Ukraine
* Business
* Technology
* Op-Ed
* Lifestyle
* World
* Eastern Europe
* Sports
* Journalism of Tolerance
* Entertainment Guide
* Surviving Ilovaisk
* Then & Now
* Decade in Review
* KP BrandStudio
* Doing Business 2021
MULTIMEDIA
* Photo
* Video
* Cartoons
EVENTS
* Events Calendar
* Employment Fair
* Tiger Conference
* Top 30 Under 30
* Online events
ABOUT
* About Us
* Contact us
* Where to get the Kyiv Post
* FAQ
* Newspaper & supplements
* Business Wire
* Classifieds
* Advertising
* Privacy Policy
* Cookie Policy
* Terms & Conditions
SUBSCRIBE & SUPPORT
* Subscription
* Subscribe to Ukraine Digest
* Support Kyiv Post
* Shop
* Give a Kyiv Post print subscription to a school in Ukraine
* Gift a Kyiv Post digital subscription to a friend
* Newspaper & supplements
* Support the Free Press Foundation
Web links to Kyiv Post material are allowed provided that they contain a
hyperlink to the stories and only a brief extract (not more than 10 percent) of
the text.
© 1995-2021 BIZNESGRUPP TOV
All materials, including photographs, contained on this site are protected by
copyright law and may not be reproduced without the prior written permission of
BIZNESGRUPP TOV at news@kyivpost.com.
All Interfax-Ukraine news agency stories cannot be reproduced or distributed in
any form without written permission of Interfax-Ukraine.
Translate »
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
Powered by Google Übersetzer
X
Dear reader,
This is a friendly reminder that you should switch off your ad-blocker while
visiting the Kyiv Post.
We respect and understand your choice to avoid advertising, but most ad-blockers
also prevent pages from fully loading,
stop our site from functioning to its highest potential and block login,
register functions and more.
Please disable your ad-blocking software or whitelist our site to use it in
full.
With love, the Kyiv Post team
Close media panel
Repeater ? Photo cut-in with a button ? Photo cut-in without button ? Full-width
cut-in with buttons ? Blockquote with button ? Social link to Twitter ? Stories
with manual related posts ? Stories with related posts in chosen category ?
Attention
Add a picture
Choose file
Submit Cancel
Add a quote
Submit Cancel
Attention
Are you sure you want to delete your comment?
Yes No
Attention
Are you sure you want to delete all user's comments?
Yes No
Attention
Are you sure you want to unapprove user's comment?
Yes No
Attention
Are you sure you want to move to spam user's comment?
Yes No
Attention
Are you sure you want to move to trash user's comment?
Yes No
We use cookies to ensure that we give you the best experience on our website. If
you continue to use this site we will assume that you are happy with it.Ok
SPELLING ERROR REPORT
THE FOLLOWING TEXT WILL BE SENT TO OUR EDITORS:
YOUR COMMENT (OPTIONAL):
Send Cancel
back to top
Error!
* Please try again.
Go
Email *
Already have an account? Sign In
Reset password
Email *
Password *
Or connect with :
*
*
Don't have an account? Register
Forgot your password?
Remember me
Sign In
First Name *
Last Name *
Email *
Or connect with :
*
*
Already have an account? Sign In
Register
ORIGINALTEXT
Bessere Übersetzung vorschlagen
--------------------------------------------------------------------------------
We'd like to show you notifications for the latest news and updates.
AllowCancel