While many countries are trying to ban cryptocurrencies due to economic concerns, Ukraine has taken a positive step towards legalizing cryptocurrencies. According to the Deputy Minister of Ukraine’s Ministry of Digital Transformation, a new crypto-related bill will soon make it “quite legal to pay with cryptocurrencies.”
However, despite the draft bill allowing transactions through crypto, it will not recognize digital assets as legal tender. In a recent interview, the minister claimed that if approved, the law will only allow crypto-purchases through payment intermediaries that enable crypto-to-fiat conversions.
The bill will also allow local payment processors to provide services for converting crypto to fiat to enable payments deriving from crypto.
