Mikhail Fedorov: I Want Ukraine to Lead Cryptocurrency Jurisdiction

January 18, 2023 at 01:49 AM GST updated: February 19, 2023 at 07:39 PM 2 mins read Market News

Mikhail Fedorov wants Ukrain to be the leading jurisdiction in cryptocurrency.
Ukraine signed cryptocurrency legislation in the year 2022.
Ukrain was able to raise capital for it war through cryptocurrency.

Mikhail Fedorov, the Vice Prime Minister of Ukraine, has expressed publicly his aspiration for his nation to emerge as the jurisdiction of choice for cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

JUST IN: 🇺🇦 Vice Prime Minister of Ukraine says he wants to make the country a world leading jurisdiction for #cryptocurrency.
— Cryptonewsland (@cryptonewsland) January 17, 2023

Coindesk covered the comments made by Fedorov during the World Economic Forum, which took place in Davos, Switzerland. The vice prime minister was also given the opportunity to voice his opinions regarding the country’s Central Bank Digital Currency (CBDC), the e-hryvnia, and legislation that would “make the country the world’s leading jurisdiction for crypto assets.” He did so in response to the notion that the country was able to raise capital for its armed forces using cryptocurrencies in order for them to wage war against Russia.

The World Economic Forum in Davos, Switzerland, has played host to a multitude of influential leaders who have discussed a variety of issues pertaining to the digital asset industry. Mikhail Fedorov, the Vice Prime Minister of Ukraine, expressed his desire for the country to become the jurisdiction of choice for bitcoin transactions while he was present at that meeting.

Ukraine signed cryptocurrency legislation in 2022, right after the nation’s invasion of Russia. Fedorov says that new tax rules and a CBDC from the National Bank of Ukraine will help make this bill stronger in the near future.

In addition to this, Federovo talked about the upcoming CBDC law for the country, which he said he intended to try out for himself in the following year.

Fedorov said, “I want to be the first test user of electronic hryvnia, and I want to get paid in e-hryvnia.” In addition to this, he also commented on the country’s innovative approach to the fundraising of cryptocurrencies. As a result of the fundraising, the nation was able to accumulate the equivalent of $178 million.