The Ministry of Finance stated that in Ukraine it is legally prohibited to pay for goods and services with cryptocurrency.
Cryptocurrency also cannot be included in the official reserves of the state, as it remains an unstable asset, the value of which often fluctuates under the influence of speculation rather than economic factors.
The status of cryptocurrency in Ukraine and the world
The Ministry of Finance noted that crypto assets remain highly volatile instruments, the price of which is mainly determined by speculative expectations rather than real economic or fundamental factors.
Among the reasons why cryptocurrency is not considered a reliable asset, unlike gold or currencies of developed countries:
does not provide stable income;
not backed by real assets;
does not have an issuer or an underlying economy;
does not provide dividends;
does not have legal protection in cases of fraud or loss of access.
I remind you that in most countries of the world it is also not a legal means of payment.
The exchange rate of cryptocurrencies to the dollar 💵
None of the 'G7' countries have included cryptocurrencies in their official reserves. Moreover, leading financial institutions, particularly the European Central Bank, as well as the authorities of the United Kingdom and Germany, take a cautious stance on the use of crypto assets at the state level.
Recall that the National Securities and Stock Market Commission submitted its comments and proposals to the Verkhovna Rada regarding bill No. 10225-d, concerning the regulation of the virtual assets market. The document contains a total of 80 points.#HotJulyPPI #BNBBreaksATH #BTCBreaksATH #REVABinanceTGE 