Ukraine to Regulate Bitcoin Businesses below Existing Laws

In response to queries from Ukraine-based news source AIN. UA, the National Bank associated with Ukraine (NBU) has released its first formal lawful guidance to its indigenous bitcoin community.

Most notably, the NBU offers indicated that bitcoin transaction systems and payment facilities services must register with the agency and abide by current laws related to the administration of electronic money.

The announcement jobs Ukraine closer to the European Union compared to Russia on matters associated with virtual currency regulation, even as Russia has moved to firm up its influence over the previous USSR member state on the national stage.

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