September 30, 2020

Minister of Digital Transformation of Ukraine proposed to legalize cryptocurrencies

The Minister of Digital Transformation of Ukraine Mikhail Fedorov plans to legalize cryptocurrencies in the country.

About one of the future deputy ministers, Alexander Bornyakov, said this, noting that although the use and extraction of digital currencies is not prohibited in Ukraine, they do not have an official status.

“People who do this should leave the gray zone and start paying taxes,” Bornyakov said.

Moreover, taxes will be paid not onlymining companies, but also cryptocurrency traders. In addition, thanks to the legalization of digital currencies, it is planned to transfer state databases to the blockchain.

“Various registries must be protected and defined,” Bornyakov emphasized.

This summer, the Central Bank of Ukraine issued a limited amount of national electronic currency.

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