Ukraine to Regulate Bitcoin Exchanges Under Proposed Law

Ukraine to Regulate Bitcoin Exchanges Under Proposed Law

New legislation introduced in Ukraine would bring the local cryptocurrency ecosystem under the oversight of the country’s central bank. The bill, first filed on October 6 according to public records , outlines the rules for exchange services, including taxation and data redemption requirements. Notably, the bill calls for cryptocurrencies to be taxed as a kind of property, mirroring the approach taken by the U.S. Internal Revenue Service, which released a similar determination in 2014. It also includes a section on cryptocurrency mining – the energy-intensive process by which transactions are added to a blockchain, creating new coins as a […]