Binance will help Ukraine in the development of cryptocurrency legislation

Binance Exchange will advise the Ukrainian authorities on cryptocurrency market regulation and asset digitization.

The company has already signed an agreement oncooperation with the Ministry of Digital Transformation of Ukraine. The government and parliament plan to finalize the relevant bills and submit them to the Verkhovna Rada before the end of 2019.

In addition to assisting in the development of regulations for the crypto industry and the digital currency market, the exchange team will help the working group to form transparent and effective mechanisms for transferring ownership of virtual assets, as well as favorable conditions for investing and doing business in this area.

Changpen Zhao, head of Binance, confirmed the news and said the adoption of progressive legislation could spur economic growth and attract foreign capital.

In Russia, the regulation of the cryptocurrency market is regularlypostponed due to disagreements of the participants in the working group and the tough position of the Central Bank, which is categorically against the legalization of cryptocurrencies on open platforms.