Cryptocurrency transactions in Ukraine will be strictly monitored by the state, although the country’s finance minister admits that it’s not digital coins but fiat cash that criminals and corrupt officials are more likely to use. The legalization of cryptocurrencies remains a priority in Kiev as the government has indicated its clear understanding that the benefits outweigh the risks.

Also read: New Ukrainian Law Says ‘Virtual Assets’ Can Be Used for Payments

Exchanges and Banks to Collect and Keep User Data

Operations conducted by crypto companies and other entities dealing with digital assets will be examined and verified by Ukraine’s financial regulators, Minister Oksana Markarova announced during a recent press conference. All crypto-related transactions worth 30,000 hryvnias or more, the equivalent of approximately $1,200, will be subjected to government oversight, she emphasized while briefing Ukrainian media about the newly adopted anti-money laundering rules.

Ukraine to Oversee Crypto Transactions Above $1,200, Sees Opportunities in Legalization Not Risks
Oksana Markarova

Cryptocurrency exchanges, other trading…

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