Ukraine will accept bitcoin payments legally

According to the Deputy Minister of the Ukrainian Ministry of Digital Transformation, Bitcoin payments will be permitted in Ukraine. To make this possible, the government is currently working on a new special law.

The new law will allow bitcoin payments to Ukraine, even though it does not consider them legitimate payment methods. A legitimate government official confirmed this.

Oleksandr Borniakov is the Deputy Minister of Ukraine’s Ministry of Digital Transformation. He believes that “paying bitcoin” is legal in Ukraine. Payment intermediaries, for example, allow bitcoin to be converted to cash.

Related: AXA Starts Accepting Bitcoin As Payment

According to Minfinon’s interview on Friday, the Ukrainian virtual currency bill “clearly stated” that bitcoin was not legal payments in Ukraine. The new law allows local payment processors to continue to provide bitcoin-to-fiat conversion services. All this is done to make digital currency transactions easier.

Volodymyr Zaleski, the Ukrainian president, has already signed The Payment Services Act. This regulates digital money. On June 30, 2013, the Ukrainian Parliament – the Supreme Council – voted in favor of the law.

Read Also: Square Made $ 2.72 Billion From Bitcoin Sales In Q2

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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