Ukraine makes Bitcoin and crypto legal in the country
Ukraine’s Government has taken a huge decision in a crisis time period. As we all know Russia and Ukraine’s geopolitical rivalry has risen again. In a great crisis time making cryptocurrency legal is a little bit awkward but there may be some political point of view.
Ukraine already had a green light about cryptocurrency from the beginning. Over the past few months, Ukraine was making laws and regulations to embrace cryptocurrency at a national level. In 2021 Ukrainian President Volodymyr Zelenskyy signed a law 2021 to issue a digital currency from its Central Bank.
However today evening Ukraine joins the list which accepts Cryptocurrency. After a slight recovery cryptocurrency market was red yesterday once again. The market volatility continues as the market wibble wobbled in the past few months at a great pace.
This makes investors panic. Day traders and swing traders suffer more from this kind of situation. However, Ukraine making cryptocurrency legal will make a significant green impact on the market.
At the moment Ukraine is seeking support and help from the world as they know their old rivalry with Russia won’t go easy on them. Ukraine requested membership in NATO as well despite it was still denied.
Making Cryptocurrency legal in Ukraine will open the gates to the public to the European region’s money market via cryptocurrency. As they seek European support most of this will make some sense.
Cryptocurrency is legal in many European countries so at this moment this may be a political tactic. However, in the past few days, this Russia Ukraine geopolitical issue crashed the stock and crypto market significantly. Let’s see will the decision effects or affects the market.