Amid the ongoing Russian invasion, war-ravaged Ukraine legalises cryptocurrencies. 

Legalisation of cryptocurrencies by Ukraine follows receipt of crypto donations in millions ever since the Russian invasion began last month. 

Ukraine President Volodymyr Zelensky has signed a virtual assets bill to regulate crypto market. 

“From now on foreign and Ukrainian cryptocurrencies exchanges will operate legally and banks will open accounts for crypto companies,” Ukraine’s ministry of digital transformation informed. 

Also read: Ukrainian military launches counter-offensive at occupied Kherson airport, destroy Russian helicopters

According to CoinDesk, the new Ukrainian law on cryptocurrencies determines the legal status, classification, ownership and regulators of virtual assets, in addition to establishing registration requirements for cryptocurrency service providers. 

The cryptocurrency market in Ukraine will be regulated by its National Securities and Stock Market Commission. 

Since the Russian invasion began last month, Ukraine has reportedly received more than $100 million in donations in the form of cryptocurrencies. 

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