On November 22 in Kyiv, a protocol was signed to create the public union “Virtual Assets of Ukraine” (VAU). According to ForkLog, representatives of the organization said their aim is to support and develop the market for virtual assets in Ukraine and its integration into the global cryptocurrency market.
The public union was founded by public organization Blockchain4Ukraine, the law firms Arzinger and Juscutum, and the cryptocurrency exchange Binance.
Konstantin Yarmolenko, director of Blockchain4Ukraine, was elected as CEO and chair of the board, and the post of head of the supervisory board was taken by the head of Blockchain4 Ukraine, Aleksei Zhmerenetsky.
“Our goal is to legalize virtual assets in the country, implement blockchain technology in state registries and launch a mechanism for tokenizing state and corporate assets to attract investment into Ukraine’s economy,” said Konstantin Yarmolenko.
In September, the analytics company Chainalysis named Ukraine the leader in the number of active cryptocurrency users.
The Ministry of Digital Transformation of Ukraine ties high indicators to the large number of developers in the country, a high level of awareness of digital technologies, as well as a significant number of entrepreneurs working on international marketplaces where virtual assets are used for settlements.
The ministry regards virtual assets as more convenient and attractive for investments than the local stock market and real estate.
The structure of the public union allows admission of resident and non-resident legal entities into its membership, enabling the grouping of companies interested in launching the virtual assets market.
“The initiative to create the public union ‘Virtual Assets of Ukraine’ will promote the popularization of cryptocurrency in the country and the dissemination of the technology, as well as create a favorable business climate for the local community,” said Gleb Kostarev, Binance’s Director for Eastern Europe.
Earlier, ForkLog reported that the Verkhovna Rada of Ukraine will consider the bill “On Virtual Assets,” regulating the circulation of cryptocurrencies within the country this week. However, the reading of the document may be postponed due to the pandemic.
Follow ForkLog news on Telegram: ForkLog Feed — all the latest news, ForkLog — the most important news and polls.