The Minister of Digital Transformation of Ukraine, Oleksandr Bornyakov, confirmed that he wants to enforce a law that would completely legalize cryptocurrencies. Should this happen, Ukraine will soon become another country that recognizes cryptocurrencies as legal tender. This law wants Ukraine to allow its people to protect their wealth in digital assets. The law is currently being prepared for the second reading in parliament, which only proves that Ukraine is really serious about legalizing cryptocurrencies.
However, this will also require the creation of a new regulatory body called the National Service for the Regulation of Virtual Assets (NSVA), which will be responsible for all crypto companies operating in the country. However, it is also worth mentioning that the cryptocurrency tax will be reduced from the current 19.5% to 5%, which is clearly great news for all crypto fans in the country.