Ukraine to Legalize Crypto by Early 2025, Binance Supports Bitcoin Reserve
Ukraine is moving forward with plans to legalize and regulate cryptocurrencies by early 2025. A specialized working group, including the National Bank of Ukraine and the International Monetary Fund, is finalizing draft legislation. Binance, which has previously donated $10 million in humanitarian aid to Ukraine, has expressed support for the country's Bitcoin reserve initiative.
The working group, comprising government officials and financial regulatory bodies, aims to have the first parliamentary reading of the cryptocurrency legalization bill in the first quarter of 2025. Ukraine is also exploring the possibility of establishing a national strategic Bitcoin reserve.
Binance's Head of CEE, Central Asia, and Africa, Kirill Khomyakov, has acknowledged the need for significant legislative changes and a clearer regulatory stance on crypto assets from the Ukrainian government. This comes as Ukraine continues to advance in its cryptocurrency legalization efforts.
With the draft law for the reserve in its final stages of preparation, as confirmed by Ukrainian Member of Parliament Yaroslav Zhelezniak, Ukraine is poised to make significant strides in its cryptocurrency landscape by early 2025. Binance's support and the collaborative efforts of the working group are expected to facilitate this progress.
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