{"id":16638,"date":"2023-01-19T13:29:52","date_gmt":"2023-01-19T13:29:52","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ukraine-to-be-best-crypto-jurisdiction-with-new-tax-rules-digital-minister-says-in-davos-regulation-bitcoin-news\/"},"modified":"2023-01-19T13:29:52","modified_gmt":"2023-01-19T13:29:52","slug":"ukraine-to-be-best-crypto-jurisdiction-with-new-tax-rules-digital-minister-says-in-davos-regulation-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ukraine-to-be-best-crypto-jurisdiction-with-new-tax-rules-digital-minister-says-in-davos-regulation-bitcoin-news\/","title":{"rendered":"Ukraine to Be Best Crypto Jurisdiction With New Tax Rules, Digital Minister Says in Davos \u2013 Regulation Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Ukraine will become the world\u2019s best jurisdiction for crypto assets, the minister overseeing the country\u2019s digital transformation promised. Speaking with media at the World Economic Forum in Davos, Mykhailo Fedorov praised the support from the crypto community for his war-struck nation.<\/strong><\/p>\n

Crypto Donations Have Been Critically Helpful to Ukraine Amid Invasion, Fedorov Says<\/h2>\n

During the early stages of Russia\u2019s military invasion, donations<\/a> through cryptocurrency were \u201ccritically helpful to Ukraine,\u201d the country\u2019s Vice Prime Minister and Minister of Digital Transformation Mykhailo Fedorov told<\/a> journalists in Davos, Switzerland.<\/p>\n

During a press conference at the sidelines of the World Economic Forum (WEF), Fedorov explained that with currency restrictions imposed with the martial law, Ukraine was nevertheless able to quickly purchase everything it needed for its armed forces, thanks to the support of the global crypto community.<\/p>\n

The high-ranking representative also emphasized that the government is developing the necessary legal framework with a comprehensive approach to the full legalization of cryptocurrencies. A law \u201cOn Virtual Assets\u201d was passed<\/a> by the Verkhovna Rada, the Ukrainian parliament, in mid-February.<\/p>\n

For this legislation to come into full force, amendments to the Tax Code are also needed. Once they are adopted, Ukraine will have the best crypto jurisdiction in the world, Fedorov insisted, further pointing out:<\/p>\n

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Ukraine is a candidate for EU membership. We have to harmonize with European law, taking into account the practices and recommendations of the IMF and the World Bank.<\/p>\n<\/blockquote>\n

Minister Wants to Be Paid in Ukraine\u2019s Digital Currency, E-hryvnia<\/h2>\n

The Ukrainian official also marked the progress towards issuing a Ukrainian central bank digital currency (CBDC). \u201cTwo weeks ago, I saw a pilot of electronic hryvnia,\u201d he said, referring to the project<\/a> which is being realized in cooperation with Stellar and a private bank.<\/p>\n

The National Bank of Ukraine (NBU) intends to propose in 2024 legislation dedicated to the introduction of the CBDC, Mykhailo Fedorov revealed. \u201cI plan to become its first test user and receive my salary in e-hryvnia,\u201d he stated.<\/p>\n

Despite the raging conflict with Russia, the authorities in Kyiv have a \u201cvery ambitious plan\u201d to make Ukraine the most digitalized country in the next two years. \u201cDigitalization is going to be the foundation for rebuilding. We are doing these reforms during the war,\u201d Fedorov explained.<\/p>\n

The vice prime minister also highlighted the support his nation is getting on the road to digitalization, in terms of resources and experience from G7 countries like the United States and Japan. He further called for the continuation of tech sanctions against Russia, which he said is still buying components using<\/a> virtual assets and intermediaries.<\/p>\n

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conflict<\/a>, Crypto<\/a>, crypto assets<\/a>, Crypto Donations<\/a>, crypto regulations<\/a>, Cryptocurrencies<\/a>, Cryptocurrency<\/a>, Davos<\/a>, digital minister<\/a>, digital transformation<\/a>, digitalization<\/a>, economic forum<\/a>, Fedorov<\/a>, Forum<\/a>, invasion<\/a>, minister<\/a>, Mykhailo Fedorov<\/a>, Russia<\/a>, russian<\/a>, Sanctions<\/a>, Ukraine<\/a>, ukrainian<\/a>, War<\/a>, WEF<\/a><\/div>\n<\/div>\n

Do you think Ukraine will establish itself as one of the most crypto-friendly destinations after the war? Share your expectations in the comments section below.<\/strong><\/em><\/p>\n

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\nLubomir Tassev <\/h6>\n

\nLubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens\u2019s quote: \u201cBeing a writer is what I am, rather than what I do.\u201d Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, photowalking \/ Shutterstock.com<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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