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Do people understand Ukraine did not introduce crypto as currency, but that "legalization" pretty much just means regulation?

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by COINS NEWS 182 Views

There have been many posts on the legalization of crypto in Ukraine since yesterday. I see a lot of misunderstandins about it, and am pretty confused about the reactions on here.

Firstly, I think it's weird that everyone is so excited because this is not new. Parliament already voted on this a month ago, here's a thread from 25 days ago. The president just signed the law yesterday, most likely a formality.

Secondly, and most improtantly: what do you think this means? I've seen comparisons to El Salvador quite a few times, and it's not even similar. Ukraine doesn't introduce BTC or any other crypto as legal tender or whatever. They just introduced a legal framework to regulate it and introduces financial monitoring measures for virtual assets. I'm all for this, I think regulation is really necessary for crypto, but doesn't this sub usually hate regulation, for example when the US or the EU want to do it?

I've read the El Salvador comparison a few times, one dude just told me "Only 6 countries have crypto as β€œlegal”" - I think many of you don't quite understand what happened here. They just introduced a legal framework to regulate it. That can be good or bad, depending on your position, but it's not as new or big as many people seem to think.

submitted by /u/mic_droo
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