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Ukraine Sanctions Cryptocurrency As A Part Of Modernization

Ukraine Sanctions Cryptocurrency As A Part Of Modernization

Ukraine crypto-techcryption

Several governments around the world are abruptly adopting cryptocurrency despite some are planning to ban it altogether.

In a recent event, the soon-to-be Deputy Minister of Digital Transformation, Alexander Bornyakov revealed that the Ukrainian government intents to sanction cryptocurrency and it will be approved by the Minister of Digital Transformation, Mikhail Fedorov.

Although digital currency is not banned or illegal in the country, it does not have a status either. In a way, the legalization will be a confirmation to the crypto community and be beneficial to the government through taxation.

“People who are engaged in cryptocurrencies should get out of the grey zone and start paying taxes. The government also can earn from cryptocurrency traders in future”, Bornyakov explained.

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The ultimate goal of the government is to ensure modernization and make Ukraine a significant hub for the blockchain revolution. “I wish to turn the state into a simple service. It should be convenient and unintrusive… so that when you interact with the state, you feel comfortable, just like when you order Uber, Booking.com or Airbnb, which requires a decentralized system”, Fedorov summed.

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