Ukrainian Government Approves Cryptocurrency Legislation

Ukraine's struggling financially, with a currency that's cheap (and losing value). The highest denomination note isn't even worth 20 euros. When people are buying homes, sellers usually want payments in dollars. Given that a lot of Ukrainians are pretty tech-savvy, it seems like a smart move. The government is banking on the hope that some young entrepreneurs will kick off blockchain ventures to boost the economy.

I personally don't see this as a huge piece of news at all, or even relevant. All these legalizations really don't count as much if there is no adoption. Besides, using bitcoin was never illegal to begin with and there was no way of enforcing a ban even if it was. Just goes to show how much the media can hype things up I guess for absolutely no reason just to create attention grabbing headlines.

I have read and watched the Ukrainian Parliament carry out its illegal legal policies against Bitcoin, Even then, if President Volodymyr wants to sign, my response is that if this goes well, it will make it easier for investors in Ukraine to buy Bitcoin and invest in Crypto, also for Bitcoin users their assets are more secure. From one side the law in Ukraine is good, but in my opinion the Ukrainian government applies the law to be able to take taxes on crypto transactions in Ukraine, because @Mykhailo, once mentioned it about daily turnover, about digital currency averaging $37k, if the law goes well year after year, Ukraine will most likely be the biggest tax earner country.

At first, I was quite surprised! I never knew this all these years, Bulgarian government holds such a huge amount of BTC, if they decide to legalize bitcoin and treat it as legal tender, they really can become a very rich country. But later dug in and came to know that they actually seized this amount of BTC from a criminal network and then later took it into their custody and this now is a national resource, they stand at about 18% of the national debt of the country, I am sure this might be the best gift any country would have received from their criminals. Ironic thing is that these were just worth $500,000 when they were seized which means 1 BTC was even less than $3k but look at the price boom today which has made Bulgaria so rich in BTC, seems like they are the biggest HODLer

Ukrainian has been positive with cryptocurrency I searched for more information to confirm the information and to realize that the country since last year have had bills to try and legalize bitcoin. Now with the new law, I think it is the fifth country to have some legal rule for the use . This is a good idea for hodlers because price may keep rising.

Indeed. Calling it "legalization" is, in fact, incorrect. What happens is that all crypto news sites have called it that way, I don't know if the origin came from a news agency or simply the first crypto news site called it that way and everyone copied it. The Kiev newspaper I quoted in this thread called it correctly: How to deal with multiple, factually incorrect threads?

Not meaning to devalue these exciting developments in any way, but wouldn't there be more general, for example cyber-crime-related or even basic fraud-related laws that would protect citizens before any cryptocurrency-specific laws were created? I mean, ideally, a legal system should not have to regulate everything new in order to achieve reasonable outcomes on matters involving new things. Anyway, I guess it's a great step towards more acceptance.

Despite that it is not easy to enforce real ban on bitcoin and cryptocurrency but some countries have been making attempt to stop bitcoin. Some have imposed series of ban on crypto related issues like China etc, some also have restricted some exchanges like the uk did to binance on whatever reason either some for verification and kyc. Nigeria also have since disconnected accounts tied to binance, all these are means to frustrate bitcoin and if you search through google for countries that have made bitcoin illegal, you see that is found.

I never know there was website something like this, Also i didn't expect some company especially Us-based company was dominating the chart beside that Nexon was also holding some huge amount bitcoin, It's really suprise me to be honest. Looks like we are closes to the mass-adoption in the future since some government was changing view to the crypto especially ukraine as you said, Anyway thanks for sharing that site!