Bitcoin Legalized in Ukraine, the Latest Country To Adopt Crypto
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- The Parliament of Ukraine approves Bitcoin in a consensus vote.
- The Bill will now make its way to the Ukraine President.
- Until recently, it was illegal to deal in crypto in Ukraine.
Ukraine has passed a law allowing virtual assets like Bitcoin and tokens in Ukraine. A total of 276 Ukrainian lawmakers voted during its second reading on September 8, 2021.
In Ukraine, bitcoin and other virtual currencies were considered scams. This led to attacks on crypto businesses.
Although Bitcoin is now legal in Ukraine, Bitcoin owners cannot use it as a means of payment. However, Ukraine allows blockchain companies to process individual businesses. They are also allowed to work directly with the existing banking system.
The Bill aims to clear the status of Bitcoin and give protection to those who own crypto in Ukraine. If the Ukraine Parliament amends the tax and civil codes, firms and investors …