Crypto market is a ‘development vector’ for nation’s digital economy, says Ukrainian president

Ukrainian President Volodymyr Zelensky stressed the importance of launching a legal digital asset market in his country during a working visit to the United States.

President Zelensky emphasizes importance of Ukrainian virtual asset market

Speaking to venture capital funds and accelerators in Silicon Valley, Volodymyr Zelensky welcomed the opportunity to discuss prospects for IT sector development and innovations in Ukraine. In his opening speech for the event, quoted in a press release, the Ukrainian leader stressed that his country had made a “real breakthrough in the digital sphere” and a “huge step towards the creation of a digital state “over the past year.

Crypto market is a 'development vector' for nation's digital economy, says Ukrainian president

In a meeting with representatives of the Stellar Development Foundation, the president expressed the hope that in the near future, the institution will find more opportunities to expand its activities and its team as well as to possibly establish a training center. R&D in this Eastern European country. “After all, Ukraine is now the best pole of attraction with blockchain and crypto specialists in Europe,” Zelensky remarked, emphasizing again:

And one of the vectors for the development of Ukraine’s digital economy is the launch and development of an innovative legal market for virtual assets.

Earlier this year, Ukraine’s Ministry of Digital Transformation signed a memorandum of understanding with the foundation to support the Ukrainian government’s ongoing efforts to develop a legal framework for the country’s expanding crypto space. The agreement also covers Stellar’s participation in the construction of the Ukrainian national digital currency infrastructure.

Ukrainian Minister of Digital Transformation Mykhailo Fedorov, who was part of the delegation, noted that Ukraine has one of the largest blockchain developer communities in the world and is striving to become an attractive jurisdiction for businesses. of local and foreign cryptography. 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 Kiev administration has maintained a generally positive attitude towards the crypto and blockchain industry, but has yet to adopt comprehensive regulations for its activities. A recently revised virtual asset bill is expected to be passed by the end of this year.

In July, government officials and business representatives drew up a roadmap to transform Ukraine into a leader in cryptocurrency integration. A central element of the new strategy is the plan to develop the country’s virtual asset market over the next three years.

Do you expect Ukraine to become one of the top crypto-friendly destinations in Europe? Let us know in the comments section below.

Tags in this story

Crypto, Crypto Industry, Crypto Market, Crypto Space, Cryptocurrencies, Cryptocurrency, Development Vector, Digital Assets, Digital Currency, Digital Hryvnia, Event, Foundation, Kiev, Meeting, President, Roadmap, Stellar, Strategy &, United States, Ukraine, Ukrainian, Virtual Assets, Virtual Asset Market, Visit, Volodymyr Zelensky, Zelensky

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