If variants of this Ukrainian law becomes standard, owners will have legal recourse to reclaim stolen virtual assets, and those who steal them will have no legal standing for claiming ownership.
The Ukrainian parliament has passed a law that recognizes and regulates digital currencies, with the Ministry of Digital Transformation given jurisdiction over the sector.
The pilot would be conducted at the Ministry of Digital Transformation and comes just three weeks after the Ukrainian president signed into law a bill that allows the central bank to issue a digital currency.
The exchanges allowed their users to launder money by failing to implement any Know Your Customer requirements, according to the Security Service of Ukraine.
Ukraine’s counterintelligence unit announced the raid and seizure in an alleged illegal block reward mining site recently, describing it as the “the largest underground crypto farm.”
Ukraine’s Ministry of Energy is reportedly planning the mining center, which could consume as much as two to three gigawatts of energy per day.
A prolific BTC scam operating in Australia has been traced to fraudsters in Russia, following an investigation by The Guardian Australia.
The Draft Bill on Virtual Assets was accepted by politicians in the Verkhovna Rada, and will now proceed through two further legislative steps.
The Ukraine government has signed a deal with Crystal Blockchain that allows them to track digital currency transactions.
Ukrainian authorities have arrested a man they accuse of being behind the largest data heist ever, leaking emails, password and digital currency wallet info.
The Ukraine government sees digital currency transaction processing as an activity that can act as a driver of social and economic development.