The Ministry of Digital Development Spoke About The Prospects For The Growth of the Ukrainian Crypto Industry

I n the period 2021, the volume of cryptocurrency transactions of Ukrainian investors increased five times. In addition, Ukraine entered the...

In the period 2021, the volume of cryptocurrency transactions of Ukrainian investors increased five times. In addition, Ukraine entered the top ten countries with the highest earnings from investments in tokens. This was announced by the Deputy Minister of Digital Transformation for IT Development Alexander Bornyakov during his speech at the Diia Summit. According to him, the government of the country has high hopes for the crypto industry and believes that this industry will become a key factor in the development of the digital economy.

“About $33 billion has been invested by venture investors in the blockchain ecosystem. Ukraine can become a comfortable country for multi-billion dollar companies from all over the world,” Bornyakov said.

Recall that on October 6, 2021, Head of State Volodymyr Zelensky returned the law on cryptocurrencies to the Rada with some of his amendments. The draft law “On Virtual Assets” (No. 3637) is intended to regulate the domestic market of cryptocurrencies and their use in economic activity.

In turn, the National Bank said that virtual money in the foreseeable future will not be recognized as a full-fledged payment instrument. Earlier it became known that the world's largest cryptocurrency exchange Binance is preparing to launch a payment card in Ukraine. The card will be issued with a balance in cryptocurrencies and automatic conversion during payments.

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India has announced plans to launch a digital national currency by next year and tax cryptocurrencies and NFTs. The fact is that the country is approaching the recognition of cryptocurrencies as legal tender while being the second-largest Internet market in the world.