• Deputy Prime Minister of Ukraine, Mikhail Fedorov, wants to make his country the world’s leading jurisdiction for virtual currency.
• He stated he wants to be the first user of the planned new central bank digital currency and take his salary in e-hryvnia.
• The new laws will make Ukraine the world’s leading jurisdiction for virtual currency.
Mikhail Fedorov, Deputy Prime Minister of Ukraine, attended the World Economic Forum in Davos, Switzerland to make a bold announcement. He declared he wanted to make Ukraine the world’s leading jurisdiction for virtual currency. He further stated that he would like to be the first user of the planned new Central Bank Digital Currency (CBDC) and take his salary in e-hryvnia.
The new laws that Fedorov is proposing will make Ukraine the world’s leading jurisdiction for virtual currency. This is an ambitious goal as many countries have already begun to develop their own virtual currency initiatives. Fedorov explained his plans with an emphasis on making sure the regulations are fair and just for everyone. He said he wants to create a “level playing field” for all users of the new virtual currency.
The World Economic Forum was attended by a number of experts in the field of virtual currency and blockchain technology. Topics discussed included Bank of America’s new report on central bank digital currencies (CBDCs), the European Union postponing the MiCA vote until April, and crypto’s tax implications.
IBM Consulting Executive Partner Shyam Nagarajan, Deloitte Tax LLP Partner Rob Massey, TRM Labs Senior Policy Advisor Isabella Chase, and Marta Belcher of the Filecoin Foundation were among the speakers. All of them expressed their support for the new laws proposed by the Ukrainian government.
The Ukrainian government is taking steps to make the country a friendly environment for virtual currency usage. This includes setting up a Regulatory Sandbox and establishing a cryptocurrency exchange. It also plans to create a National Digital Currency Research Institute for research and development.
Fedorov’s vision for the future of Ukraine as a leading digital currency jurisdiction is ambitious, but not impossible. The regulations that the Ukrainian government is proposing could pave the way for a future of digital currency use in the country. It is yet to be seen if this vision will be realized, but if it is, it could be a major turning point for the global virtual currency industry.