Ukraine to develop Bitcoin legislation

The document will be created on the basis of similar laws already adopted in Japan, Great Britain and Singapore.

Former Managing Director of the Deposit Guarantee Fund Valeriy Ogienko headed the Crypto Rus Social Innovation Development Fund, founded by KUNA Bitcoin Agency.

According to Mykhailo Chobanyan, founder of KUNA Bitcoin Agency and the KUNA cryptocurrency exchange, Ogienko's tasks will also include the development of regulations for Bitcoin.

Mykhailo Chobanyan reported that the fund will try to adapt the legislation of other countries to Ukrainian realities and will promote its developments through the Verkhovna Rada, although its current supporters do not have an urgent need to "legalize" Bitcoin.

"No one is preventing individuals and private entrepreneurs from working with Bitcoin now. And if we legalize everything and launch large companies on the market that will start coming up with schemes to minimize taxes using Bitcoin, this may lead to some kind of ban on Bitcoin. The question is ambiguous. Therefore, we do not want to work in this direction. But the need for this is a matter of time." – Mykhailo Chobonyan, founder of KUNA Bitcoin Agency and the cryptocurrency exchange Kuna.

Source: PaySpace Magazine