Ukraine will be the best crypto jurisdiction with new tax rules, says digital minister in Davos
Ukraine’s deputy prime minister and minister of digital transformation Mykhailo Fedorov told reporters in Davos, Switzerland, that donations through cryptocurrencies were certainly the biggest support for him during the initial phase of Russia’s military offensive and as an assistant Existed because on this basis Ukraine has definitely worked for humanity in its country and its struggle for the same has continued. And certainly if we look at it, we have reached an important stage through digital transformation and all its practices and through the greater promotion of cryptocurrency, and to a large extent, we have been supported in the adoption of technology. Has happened.
During a press conference on the sidelines of the World Economic Forum (WEF), Fedorov explained that even with the sanctions imposed along with martial law, Ukraine was still able to buy everything for its armed forces that needed global support and its It was possible only in behavior and for this we are very thankful to the crypto community for supporting us so much that we can protect humanity in our country. High-ranking representatives also emphasize that the government is creating and developing a legal framework with a business approach to fully legitimize cryptocurrencies. Along with this, a law on virtual assets was also passed by the Verkhovna Rada, the parliament of Ukraine, in mid-February. Of course, a tax code amendment is also needed for this law to be fully implemented. Once they are adopted, Ukraine will certainly have the best crypto sector in the world, further hinting that it is a candidate for EU membership and will receive funding from the IMF and the World Bank. Keeping in mind the first and recommendation of the EU, it will have to establish its coordination with the European Union and the law and at the same time it will reach a certain footing of this harmony and coordination only by following all the procedures present at different levels. The Ukrainian official marked progress toward the issuance of a Ukrainian central bank digital currency, as well as its significant participation in this direction. He noted the project being realized in collaboration with Stellar and a private bank. “Two weeks ago he saw a pilot of an electronic hryvnia,” .
Mykhailo Fedorov revealed that the National Bank of Ukraine intends to propose a dedicated law to introduce a central bank digital currency in 2024. Plans to become its test user and in addition to receive their salary in e-hryvnia.
He further explains that despite the conflict with Russia, the authorities in the capital city of Kyiv have very ambitious plans to make Ukraine the most digital country in the next 2 years, and are trying to lay a good foundation for digitization and reconstruction. Further improvements are being made during the war. The Prime Minister also highlighted the support being received by G7 member countries like the United States and Japan and his country on the path of digitalization in terms of resources and experience and further requested for continuation of technical sanctions against Russia and he Said to still be buying components using virtual assets and middlemen. Certainly it is clear from his statement that he wants the country’s cooperation so that he can maintain his stability in maximum war and he does not have to face defeat with Russia and that is why he is making a clear demand for everyone’s cooperation. so that when a powerful and developed country and a powerful country like America will come and work with them or come and walk step by step with them then surely the war will be able to win their war against them and if the sanctions remain in force in Russia then definitely He will be able to inflict an economic blow on Russia and at the same time will continue to make significant efforts to secure his economy under digitalization.
