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Ukraine To Legalize Cryptocurrencies, Invites Citizens To Comment On Proposed Regulations

Ukraine is preparing draft legislation to legalize cryptocurrencies, according to a post by a member of the Ukrainian parliament, Alexei Mushak, on his Facebook page Tuesday, May 15.

The document notes that the legislation aims to create a “free and transparent” digital asset market in Ukraine, outlining rules for storing, using, and exchanging cryptocurrencies, digital tokens, and smart contracts at a state, entity, and individual level. It proposes regulatory measures for preventing the use of crypto for money laundering, terrorist financing, and other criminal activities.

The document also advocates the use of digital ledger technology (DLT) - also known as blockchain - in the public sphere, singling out public relations, healthcare, and education as areas of particular interest.

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