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Bitcoin transactions legalized in Ukraine

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The Ukrainian parliament passed the bill legally recognizing Bitcoin and other cryptocurrencies. This bill will go into effect with the signature of President Vladimir Zelensky.

In Ukraine, the legislation providing for the legal recognition of Bitcoin and other cryptocurrencies was passed by the parliament. Under the law, which will be signed by President Vladimir Zelensky, investors will be legally protected against fraud in Bitcoin and other cryptocurrencies. However, in Ukraine, Bitcoin will not be accepted as an official means of payment, as in El Salvador.

Previously, there was no restriction in the country for cryptocurrency trading. The bill, passed in the parliament, described cryptocurrencies as ‘financial assets’ in the country where cryptocurrencies were traded before.

Recently, El Salvador accepted the use of Bitcoin as the country’s legal currency and became the first country to adopt Bitcoin as its legal currency.