Since the invasion of the Russia, almost $100 million have been received by Ukraine as donations from around the world. According to the Ministry of Digital Transformation of Ukraine both foreign and Ukrainian cryptocurrency are cleared to operate in the country. The next step in this regard will be that soon the Ukrainian banks can be used by Crypto companies to open accounts in it. The Ministry of Digital Transformation of Ukraine further said that by signing the Law of legalizing cryptocurrency is a step towards making the crypto sector more secure and a legal market can be developed for the virtual assets in Ukraine. Digital assets in Ukraine more or less operated in the legal gray area i.e. neither people or the companies could own or trade in the crypto. In recent years the increase in the crypto crime and due to money laundering in Eastern Europe and Ukraine, had led the government crack-down on the crypto industry. According to the new law a legal framework is created for the uprising crypto industry. The National Bank of Ukraine and National Commission on Securities and Stock Market are to be the regulatory bodies in the crypto trade according to the new law. Thus with the country Financial Institutes to interfere and regulate the crypto trade, more laws will be made to keep the trade fair. With a tax code on the crypto will further legitimize the currency and industry in Ukraine. There is a good chance that other countries also follow the Ukrainian steps and if it happens then investing in this industry will be a good and wise decision. Also Read: Crypto Mining has a Bright Future in Russia: Mr. Putin
