Ukrainian President Zelensky signed a Virtual Assets bill, effectively legalizing the cryptocurrency market in the country under the supervision of the National Commission on Securities and Stock 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 tweeted on Wednesday.
As many of the country’s banking institutions are crippled by ongoing hostilities with Russia, cryptocurrency has been seen as one of the solutions.
Kiev has reportedly received almost $100 million in donations since the start of the conflict on Feb. 24.
