Ukraine plans to legalize Bitcoin, led by young president

posted about 2 months ago
Ukraine plans to legalize Bitcoin and bring it out of a legal grey area. Currently, Bitcoin is not banned in the country, but has no official status. The move is part of the country’s modernization efforts led by its new young president. Ukraine also plans to move its state registries to a blockchain-based network.

Many of these modernization efforts are being spearheaded by the current Deputy Prime Minister for Digital Information, 28-year old Mikhail Fedorov, he said he wishes to turn the state “Into a simple service, [It should be] convenient and unintrusive… so that when you [interact] with the state, you feel comfortable, just like [when] you order Uber, Booking[.com] or Airbnb.” Ukraine’s new president Volodymyr Zelensky won a surprise election this year and has made a ‘modernization’ effort in the country: making services more efficient and increasing digital literacy. Ukraine could soon prove to be a case study in how successful such an initiative can be in repairing a country destroyed by war, corruption, and poor infrastructure.
Tags: opinion, news, blockchain, bitcoin