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Ukraine Passes Draft Digital Currency Bill

By  |  December 7, 2020

Lawmakers in Ukraine have approved a draft bill on digital currency regulation, in a move that could pave the way for a new legal structure for regulating the sector in the country, reported Coin Geek.

The Draft Bill on Virtual Assets was accepted by politicians in the Verkhovna Rada, the country’s parliament, and will now proceed through two further legislative steps before potentially being signed into national law.

Should that go ahead, Ukraine will join several other countries worldwide in having dedicated laws for digital currency on their statute books. Ukraine has already been noted to be one of the world’s most forward thinking countries on digital currency, with widespread trade, investment and savings in digital currency across the country.

The bill met with some resistance in parliament, with several lawmakers objecting to the time spent debating the matter in light of the considerable economic challenges facing the country. However, in a vote, lawmakers gave the nod with approval from 229 of the country’s 340 members.

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