Despite often being overshadowed by reports on political affairs, the news coming from Ukraine firmly put the country on the global cryptocurrency map. The country is seen as putting much effort into creating a legal framework which will solidify its status as the Eastern European hub for the crypto development by 2021.
So far, the track record of the Ukrainian authorities in the field of cryptocurrency regulation is no less than solid. Ukraine has been considering official recognition of cryptocurrencies as financial instruments under which the tokens would get the same treatment as bonds and stocks. At the same time, the Ukrainian PMs are arguably in favor of introducing a flat 5% tax rate on cryptocurrency transactions. The regulations are supposedly modelled after the similar law which came into force in Estonia. Finally, even the central bank National Bank of Ukraine is reported to be considering the launch of a digital fiat based on the Ukrainian currency.