Cryptocurrency
Ukraine Won’t Regulate Crypto Mining, Government Ministry Says
Coindesk reports, “Ukraine’s Ministry of Digital Transformation has indicated it won’t be creating regulations for the crypto mining sector. “In a document published on Friday, the government branch responsible for the digitization of Ukraine’s economy listed the main principles of the country’s approach to the crypto assets. “The main goals for the government in the field […]
Coindesk reports, “Ukraine’s Ministry of Digital Transformation has indicated it won’t be creating regulations for the crypto mining sector.
“In a document published on Friday, the government branch responsible for the digitization of Ukraine’s economy listed the main principles of the country’s approach to the crypto assets.
“The main goals for the government in the field should be ‘formation and implementation of state policy in the field of digitization, digital economy, digital innovation, e-governance and e-democracy, development of information society; assuring the development of virtual assets, blockchain and tokenization, artificial intelligence,’ the document reads.
“Most notably, the ministry said it has no plans to bring in rules to regulate crypto mining as that industry is already self-governed by blockchain consensus rules.
“‘We remain loyal to mining activities that form part of open decentralized networks. Mining does not require regulatory activity from governmental oversight bodies or other third-party regulations, this activity is regulated by the protocol itself and network members,’ the manifesto states…”