IMF urges Ukraine to finalize cryptocurrency legislation

Alex Bornyakov, Deputy Minister of Digital Transformation responsible for the development of the information technology industry in Ukraine, revealed that the International Monetary Fund (IMF) has urged Ukraine to complete cryptocurrency legislation. Alex stated that Ukraine must take full advantage of various opportunities to develop new economic sectors and emphasized that the legalization of the cryptocurrency sector can generate strong economic effects, bringing in billions of dollars in revenue.

Previously, in March 2022, Ukrainian President Volodymyr Zelenskyy signed the "Virtual Assets Act" aimed at regulating the Ukrainian cryptocurrency market. In April of last year, Yuriy Boyko, a member of the National Securities and Stock Market Commission of Ukraine, revealed that Ukraine plans to implement the cryptocurrency market rules approved by the European Parliament.