20 July 2026
Ukraine Government To Legalize Cryptocurrency Payments
The annual spring rains have brought several changes in the Ukraine region. According to Ukraine’s Deputy Minister of Digital, the country is working on a Crypto bill to legalize Crypto payments.
In an interview with a local financial publication Minfin, Oleksandr Bornyakov, the Deputy Minister, stated that Ukraine’s draft bill on virtual assets “clearly states” that Cryptocurrencies do not constitute legal tender in the country, only allowing crypto purchases. However, the Crypto bill enables local payment processors to provide services for converting crypto to fiat.
The Deputy Minister also revealed that the Crypto bill would legitimize the process of cryptocurrency trading and reporting. Furthermore, he said it is expected that a whole market of intermediary services for payment of goods by cryptocurrencies, their storage, and exchange.
Back in July, the Ministry of Digital Transformation recommended adopting an updated draft bill, “On Virtual Assets,” in the country during the bill second reading. At that time, a local e-bank planned to launch a debit card featuring Bitcoin (BTC) trading.
In the same month, Ukrainian President Volodymyr Zelensky had also signed a digital currency-related law, referred to as the law On Payment Services. The law officially enabled Ukraine’s central bank to issue a central bank digital currency, called ‘Hryvnia’
The law also focused on close collaboration between the Ukrainian central bank and local startups in the payment market, considering the private sector’s demand. In addition, Ukraine’s Ministry of Digital Transformation has also entered into a partnership with the Stellar Development Foundation to develop a strategy for digital assets and CBDC infrastructure jointly.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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