Ukraine Legalizes Bitcoin as Cryptocurrencies go Global

• Ukraine has joined the list of countries that have legalized cryptocurrency

• The Parliament of the country reach a nearly unanimous decision that adopts cryptocurrencies and legalizes them

• The European country is now the fifth country to lay down ground rules for Bitcoin and other crypto assets

European country Ukraine has announced the legalization of Bitcoin and other cryptocurrencies.

The country becomes the fifth in as many weeks to set some legal rules for the cryptocurrency market.

In a nearly one-sided voting result, the parliament of the country introduced a law to accept and regulate cryptocurrencies.

The bill which has been in motion since 2020 has now been delivered to the president of the country Volodymyr Zelensky.

Until the acceptance of crypto today, only locals were allowed to carry out Bitcoin and other cryptocurrency transactions.

Companies and exchanges that steadily operated with crypto assets were put under close watch, with authorities remaining to virtual currency as a scam.

Unlike El Salvador’s decision to make Bitcoin a legal form of payment, Ukraine’s crypto law doesn’t accept crypto as payment.

However, the decision could mean that more citizens of the country will lean towards using digital assets.

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