Government and business representatives have produced a
roadmap to transform Ukraine into a leader in cryptocurrency
integration. The authors of the new strategy want to see half of
Ukrainians using digital currencies by 2024. The East European nation is
expected to regulate its crypto space by the end of this year.
Strategy for Crypto Market Development Adopted in Ukraine
As a country where cryptocurrencies have enjoyed a growing
popularity, Ukraine now also has a strategy to develop its virtual asset
market within the next three years. The plan has been presented by
officials from the Ministry of Digital Transformation, other government
institutions and representatives of the private sector, Forklog reported.
The roadmap envisages various regulatory, educational and
infrastructural activities. Participants in the initiative have already
established almost a dozen working groups to achieve a set of goals. One
of the key areas they intend to focus efforts on is the introduction of
a relevant legal terminology and the adoption of necessary by-laws.
To do that, however, Ukraine has to first adopt comprehensive
legislation to govern its crypto industry. A draft law “On Virtual
Assets” was voted through at the first reading in the Ukrainian
parliament in December. Since then, the bill which aims to regulate
cryptocurrency transactions in the country has been revised and in June
the parliamentary Committee on Digital Transformation recommended its final adoption.
The authors of the development strategy hope this will happen by the
end of the year. Ukrainian lawmakers will have to prepare rules for
crypto taxation and approve an anti-money laundering (AML) policy for
cryptocurrency exchanges and their users.
Other priorities in the roadmap include promotion of real asset
tokenization as well as the launch of a pilot fiat-crypto gateway.
Officials and entrepreneurs also want to create educational materials on
cryptocurrencies and establish a sandbox for projects in the crypto
ecosystem.
The Digital Transformation Ministry and the industry members aim to
bring Ukraine into the top 10 countries with the highest level of
cryptocurrency integration. They estimate that the roadmap will be
successfully implemented if by 2024 at least 47% of Ukrainians use
digital currencies, 10% of Ukrainian companies tokenize or employ
tokenized assets, and the country’s educational institutions have
launched a master’s program in decentralized finance.
source link: https://news.bitcoin.com/ukraine-unveils-roadmap-to-integrate-cryptocurrencies-by-2024/
