Ukrainian Parliament legalizes virtual assets

Source : 112 Ukraine

According to Minister of Digital Transformation Mykhailo Fedorov, the parliament "has taken a revolutionary step:, and Ukraine will be on the front pages of the world's outlets
13:02, 9 September 2021

112 Agency

The bill on virtual assets, adopted by the Verkhovna Rada of Ukraine on September 8 in the second reading is revolutionary. Thus, Ukraine has entered the list of the most innovative countries. The Minister of Digital Transformation Mykhailo Fedorov said this on the air of the “Syohodni. Den” program on the Ukraine 24 channel.

“This is a regulatory bill, we have studied the world experience, and today a similar bill was adopted by the most innovative countries - the United States and Singapore, and we have joined the list of such countries. Ukrainians are among the most adaptable in the world, using various cryptocurrencies, conducting transactions on stock exchanges, we did not have any legislation that allows companies to register properly, attract money to bank accounts and conduct various transactions,” the minister said.

Related: Ukraine's international reserves rose to nine-year high

Fedorov is confident that the “digital brand of Ukraine” will receive international recognition.

“When the bill comes into force, we will have a legal plane, and all transactions can be declared, taxes paid, all exchangers working in Ukraine will be able to work legally, the budget will receive additional funds. And Ukraine, in terms of digital brand, will gain worldwide recognition, popularity, and we will receive additional capital to the budget,” Fedorov said.

The minister also said that the taxation related to virtual assets will be the most liberal in the world. Thus, Ukraine will become more attractive for investment.

“After the adoption of the main bill, an additional one will be adopted, we want to make one of the least taxes downloads in the world in order to stimulate the approach of companies in Ukraine. Details on the Tax Code will be later, but I can say that it will be one of the most liberal bills. We plan to adopt the tax bill this year, it is small, there will be some changes to the Tax Code, we want the bill to start working in the first half of next year,” said Fedorov.

As it was reported earlier, Ukraine plans to ban plastic utensils, appliances and straws for drinks.

Related: Ukraine’s digital revolution is gaining momentum

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