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Ukraine wants to become the leading jurisdiction for digital assets

Ukraine is motivated to adopt the use of digital assets after they helped the country handle the war in 2022 better.

During an interview with reporters at the World Economic Forum, Mikhailo Fedorov, Ukraine’s Deputy Prime Minister, stated his desire to be the first person to receive a salary in the country’s new central bank digital currency (CBDC), e-hryvnia.

CBDC coming to Ukraine

Fedorov, who is also Ukraine’s minister for digital transformation is pushing the adoption of digital assets, especially CBDCs. These digital currencies are already being tested in several countries like China, Turkey, or UK

Related article: Tether beats Visa and Mastercard in transaction volume in 2022

Now, Ukraine is likely to join in the “CBDC revolution” with digital hryvnia. New laws should make Ukraine the world’s leading jurisdiction for digital assets, claimed Fedorov. No wonder why the country wants the adoption as crypto was very useful at the beginning of the war.

“Two weeks ago, I saw a pilot of the electronic e-hryvnia in Ukraine. I plan on becoming the first test user of the electronic hryvnia and I plan to receive my salary in e-hryvnia,” Fedorov explained.

There were several fundraising campaigns for the country worth over 100 million dollars in total, especially in crypto. Even the European Central Bank (ECB) confirmed the arrival of CBDCs, so no country wants to be behindhand. 

The virtual assets legislation has been already signed into law last year in Ukraine, according to CoinDesk. This happened a few weeks after Russia attacked Ukraine. 

Bottom line

Ukraine is joining the forces with the adoption of digital assets, which are becoming more important than ever. Although there is a significant difference between CBDCs and crypto, the country is welcoming both. 

I got into financial markets by accident in 2012 and started with Forex trading. Later in 2017, I started investing in stocks in cryptocurrencies and began writing articles profess...

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