In an incredible set of events, the Government of Ukraine has passed a law that legalizes Bitcoin and other cryptocurrencies.
The law, which was voted mostly in favor, grants legal status to virtual assets. The law not only grants users the right to operate cryptocurrencies but also defines the clear rights and duties of all market participants.
In early October, Volodymyr Zelensky, President of Ukraine, had vetoed the bill to be sent back for changes. The President believed that the introduced bill requires changes, does not, yet, create complete legal mechanisms needed for the implementation, and does not meet constitutional requirements for legal definition. An amended version was passed on the 17th of February, 2022.
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