Ukraine Steps Up Efforts To Regulate Crypto, Aims For Top Spot
Ukraine aims to become one of the top 5 countries in the world in terms of crypto legislation, and the efforts have the “full support” of President Volodymyr Zelenskyy and the government, according to a senior Ukrainian government official.
“We aim for Ukraine to become one of the top 3-5 countries in the world with the best crypto legislation,” said Alexander Bornyakov, Ukrainian Deputy Minister of Digital Transformation.
The Deputy Minister further stated that the plan to place Ukraine among the world’s leading crypto countries has the full support of the Ukrainian government.
Additionally, Bornyakov highlighted non-fungible tokens (NFTs) as an area of particular interest for himself and the government. He said the government believes one of the purposes of NFTs and blockchain is to document history, and felt this was particularly important as Russia “attempts to erase our history”.
Deputy Minister Bornyakov’s comments were given during a virtual roundtable on Friday hosted by MetaHistorya collaborative project between the Ukrainian NFT community and the Ministry of Digital Transformation of Ukraine.
Dmitriy Buterin, the father of Ethereum (ETH) co-founder Vitalik Buterin, also participated in the discussion, which focused on the opportunities crypto could bring to Ukraine.
“I personally look forward to Ukraine becoming the world leader in crypto,” Buterin said, adding that he sees “huge opportunities” for the country if it embraces crypto.
Specifically, Buterin proposed that Ukraine open up as “a test bed” for new crypto projects. He said it was something that was absolutely necessary given all the “interesting experiments” going on in the crypto world, and suggested that some form of universal basic income (UBI) based on the cryptography could be one of them.
Meanwhile, Buterin also commented on blockchain’s role in preserving history, arguing that history is often seen as “far from our usual life”, but blockchain can bring it closer to modern everyday life. .
The former Soviet Union ‘perverted’ and ‘lied about’ history, he said, before adding that with blockchain technology there is now ‘a new opportunity to preserve history “.
Other participants in the discussion included Alona Shevchenko, co-founder of UkraineDAO, who said his group has so far raised $8 million in crypto donations to support the people of Ukraine. Among those was the sale of an NFT of the Ukrainian flag for nearly $7 million, Shevchenko said.
UkraineDAO is a Decentralized Autonomous Organization (DAO) started by the Russian feminist punk protest group Pussy Riot and NFT collectives Trippy Laboratories and PleasureDAO.
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