Ukraine’s Zelensky legalises crypto as donations near $100m
Ukraine has legalised crypto with a bill signed by President Volodymyr Zelensky as digital asset donations pour into the conflict hit country.
Zelensky yesterday signed a bill to create a legal market for digital assets in Ukraine which will be regulated by the country’s financial watchdog, the National Securities and Stock Market Commission
The bill will clarify the legal status of digital assets and creates the conditions for the formation of a legal field in the digital asset sector.
“The signing of this Law by the President is another important step towards bringing the crypto sector out of the shadows and launching a legal market for virtual assets in Ukraine,” the ministry for digital transformation said in a statement.
The new law comes as Ukraine continues to receive millions of dollars worth of donations in digital assets to support humanitarian efforts in the country.
Since Russia began its invasion of Ukraine last month close to $100m of crypto donations has been received by the government and groups supporting the country’s armed forces and civilians. In a tweet, Ukraine’s minister for digital transformation thanked Zelensky for enacting the law which will “offer new economic opportunities” to the nation.
In an earlier tweet, Bornyakov described crypto as playing a “vital role in Ukraine’s defence process,” with donations having been used to fund over 5,500 bullet proof vests and 410,000 meals for soldiers.
Read more: Crypto donations continue to pour into Ukraine’s war effort