Ukraine looks to legalize the use of cryptocurrency

The country’s ministry has made the decision as a step towards modernization.
The ministry is also planning to integrate blockchain technology into its registry system.

Rajarshi Mitra Independent Analyst

The ministry of digital transformation of Ukraine is planning to legalize the possession and use of cryptocurrencies. Though crypto transactions are not banned at present, they do not have any official status. The country’s newly elected president, Volodymyr Zelensky, announced that a decision had been made has a step towards modernization. Additionally, the ministry is planning to integrate blockchain technology into its registry system.

One of the deputy ministers, Alexander Bornyakov, spoke about how the nation would want to capitalize on cryptocurrency miners. He also spoke about plans to apply the blockchain technology on public registries and documentation based on DLT (Distributed ledger technology).

According to an earlier report on BitcoinNews.com, Ukraine’s ministry launched a state policy to legalize cryptocurrency. The newly elected president aims to speed the process. If executed, this will make Ukraine a hub for blockchain innovation.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

XRP Price Forecast: XRP trades sideways as Ripple targets 10 million agentic AI transactions

Ripple (XRP) is losing momentum on Thursday, albeit gradually, trading above $1.13. The remittance token tagged a weekly high of $1.16 on Tuesday, with gains mainly attributed to developments on the United States (US) Clarity Act and recent signs that inflation is easing in the world’s largest economy.

Crypto Today: Bitcoin, Ethereum, XRP trim gains despite resilient ETF inflows

Cryptocurrency prices are trending lower on Thursday, pressured by renewed inflation concerns stemming from ongoing tensions between the United States (US) and Iran and persistently elevated Oil prices. Bitcoin (BTC) is approaching short-term support at $65,000, with upside resistance remaining firm at $67,000.

Worldcoin Price Forecast: WLD steadies as multiple bullish signals line up

Woldcoin (WLD) price trades around $0.3838 at press time on Thursday, extending a consolidative tone capped beneath the 50-day Exponential Moving Average (EMA) at $0.4141. WLD token emissions are scheduled to drop by 43% from Friday, reducing supply pressure. Retail activity in WLD derivatives remains firm, with a 40% rise in trading volume and elevated funding rates.

Dogecoin Price Forecast: DOGE nears yearly low as risk appetite fades

Dogecoin (DOGE) extends its decline on Thursday, approaching its yearly low at $0.069 as bearish sentiment continues to weigh on the meme coin. Escalating US-Iran conflict and fresh Houthi threats have dampened risk appetite, weighing on speculative assets such as DOGE. Weakening derivatives metrics and a deteriorating technical outlook suggest a deeper correction if DOGE slips below $0.069.

Bitcoin’s potential recovery in the second half hinges on these 4 catalysts

Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.