Crypto payments are now legal in Ukraine

by in Cryptocurrency News

Verkhovna Rada

Officials in Ukraine have confirmed a new statute that approves activities with crypto as the country makes attempts to matching a stringent agreement to global anti-money laundering criteria.

Members of Verkhovna Rada have approved legalization that includes global AML's most beneficial methods into Ukraine's crypto managerial structure.

As a component of this recently affirmed law, Ukraine now categorizes cryptocurrencies as property. So, proprietors of cryptos can manage their equity as a means of exchange, leaving opportunity for authorized dealing, investments, purchases, and selling.

Related: Ukraine adopted FATF rules for crypto market regulation

Aspects of the latest law also include a plan for private individuals to act as crypto money conductors and custodians. Such services must, however, operate in strict compliance with financial monitoring and reporting standards prescribed by the newly adopted bill.

By legalizing crypto payments, Ukraine seems to have taken a prominent move in encouraging regional digital currency commerce in the country.