The Ukrainian Ministry of Finance has announced its intention to adopt Europe’s crypto rules. This decision will provide a clearer legal framework for crypto operations in the country and make Ukraine one of the few countries that are trying to encourage the use of cryptocurrencies in the future.
This move comes after Ukrainian President Volodymyr Zelensky announced plans to introduce cryptocurrencies into the financial system last year. The European rules are expected to help make this goal possible, especially given the rapidly changing legislation in the country that is working to define the scope of use, trading, and storage of cryptocurrencies.
In a separate context, the Ministry clarified that cryptocurrencies will be exempt from value-added tax in Ukraine. These exemptions will apply to companies that mine cryptocurrencies as well as individuals who use them in commercial operations.
With this announcement, it appears that Ukraine is striving to move towards the use of cryptocurrencies and encourage investment in them, which may lead to the future strengthening and development of the country’s economy.