Ukrainian government plans to legalize cryptocurrencies

The Ukrainian government plans to legalize cryptocurrency. This was stated by the Deputy Minister of IncomingDigital Transformation Alexander Bornyakov.

Bornyakov emphasized that cryptocurrencies are currentlyWhile they are not illegal in Ukraine, they do not have a legal basis. In turn, taking measures to legalize cryptocurrencies will benefit Ukraine and its government through the introduction of taxation. According to Bornyakov, “people who [are involved in cryptocurrencies] need to get out of the gray zone and start paying taxes.” In the future, he sees that Ukraine will be able to “make money on cryptocurrencies.”

As digital relationships evolveThe Ministry of Digital Transformation of Ukraine seeks to simplify work with the Ukrainian government. According to the politician, interaction with the government should be “convenient and unobtrusive ... like the process of placing an order with Uber, Booking or Airbnb”.

Under this plan, Ukraine will also transfer public registries and documents to a public distributed register managed by the government.