October 20, 2020

Ukraine signed a memorandum of cooperation with the Binance exchange

Ukraine signed a memorandum of cooperation with the Binance exchange

According to the announcement made by the Binance cryptocurrency exchange, she and the Ministry of Digital Transformation Ukraine signed a memorandum of understanding (MoU) for joint cooperation to form a position in establishing the potential legal status of virtual assets and currencies in the country.

Binance will also help develop transparent andeffective mechanisms for transferring rights to any virtual assets or currencies using blockchain technology and create favorable conditions for investment and doing business in Ukraine.

According to available information, the MinistryDigital Transformation of Ukraine and Binance will create a working group to develop a strategy for implementing blockchain technology and create new virtual assets and virtual currency market in Ukraine.

“Finally, Ukraine was in a situation whereExecutive, legislative and market representatives came to an understanding regarding the regulation of the Ukrainian cryptocurrency market. By the end of this year, the Ministry of Digital Transformation, together with members of parliament and representatives of commercial companies, plans to complete work on relevant bills and submit them to our parliament. The Ministry intends to create a comfortable, competitive environment for the crypto industry in Ukraine ”, - said Deputy Prime Minister, Minister of Digital Transformation of Ukraine Mikhail Fedorov.

“We are pleased to begin cooperation with the Ministry of Digital Transformation and help with the implementation of ambitious government plans and huge potential in the field of blockchain technologies, - said Binance CEO Changpeng Zhao.

Legalization of cryptocurrencies and adoption of progressiveLegislation in this area may become one of the key factors in stimulating the growth of the Ukrainian economy, and will also allow attracting additional investment in the country. ”

Recall that earlier Binance announced its readiness to add support for the Ukrainian hryvnia and the Kazakhstan tenge.

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