Ukraine’s Deputy Digital Transformation Minister: New bill could soon make ‘payments using cryptocurrencies legal’


August 8, 2021

In a recent interview, Bornyakov, Ukraine's deputy minister of digital transformation, said that a new crypto-related bill would soon make "payments using cryptocurrencies quite legal."

However, while the draft bill would allow transactions via crypto, it would not treat digital assets as legal tender.

If approved, the law would only allow cryptocurrency purchases through payment intermediaries that support cryptocurrency-to-fiat conversion. The bill would also allow local payment processors to provide services that convert cryptocurrencies into legal tender to enable payments derived from cryptocurrencies.