Bitcoin legalization bill in Ukraine coming in January 2016

Regulation | December 28, 2015 By:

Michael Chobanian, the founder of Bitcoin Foundation Ukraine attempts to develop the text of the bill together with a team of lawyers that will help establish the legal status of Bitcoin in Ukraine.

Verkhovna Rada of Ukraine will review the bill defining the legal status of Bitcoin. Allegedly, it will be submitted in January, 2016.

“We want to make Bitcoin a legal payment instrument for private individuals and legal entities, with proper regulation and taxation scheme, allowing ukrianian companies to work with Bitcoin freely,” said Michael Chobanian.

The status of Bitcoin in Ukraine is still not clear. Government doesn’t pay much attention to it though security services sometimes investigate Bitcoin activity as the currency may serve as an instrument for financing terrorism and other illegal activity due to its anonymity.