Ukrainian President Volodymyr Zelensky highlighted the importance of establishing a legal market for digital assets in his country during a working visit to the United States.
President Zelenskyi highlighted the importance of the Ukrainian virtual asset market
Speaking to venture capital funds and Silicon Valley accelerators, Volodymyr Zelensky praised the opportunity to discuss the prospects for the development of the IT sector and innovations in Ukraine. In his opening speech at the event, which is quoted in a press release, the Ukrainian head of state emphasized that his country had made a “real breakthrough in the digital field” and a “big leap towards a digital state” last year.
In a meeting with representatives of the Stellar Development Foundation, the President expressed the hope that the institution will find more opportunities in the near future to expand its activities and team and eventually establish an R&D center in the Eastern European country. “After all, Ukraine is now the best magnet for blockchain and crypto specialists in Europe,” commented Selenskyj and further emphasized:
And one of the vectors for the development of the digital economy of Ukraine is the introduction and development of a legal innovative market for virtual assets.
Earlier this year, the Ukrainian Ministry of Digital Transformation signed a letter of intent with the foundation aiming to support the Ukrainian government’s ongoing efforts to develop a legal framework for the country’s expanding crypto space. The agreement also includes Stellar’s involvement in building the infrastructure for the Ukrainian national digital currency.
Ukrainian Digital Transformation Minister Mykhailo Fedorov, who was part of the delegation, noted that Ukraine has one of the world’s largest blockchain developer communities and is working to become an attractive jurisdiction for local and foreign crypto companies. He added that the country is also modernizing its payments market, which will allow the National Bank of Ukraine to issue the digital hryvnia.
The current government in Kiev has maintained a generally positive stance towards the crypto and blockchain industries, but has yet to enact comprehensive regulations for its activities. A recently revised bill “On Virtual Assets” is due to be passed later this year.
In July, government officials and business representatives drew up a roadmap to make Ukraine a leader in cryptocurrency integration. Central to the new strategy is the plan to develop the country’s virtual asset market within the next three years.
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