Ukraine

The authorities of Ukraine have recently rolled out a new bill combating cybercrime that also describes the procedure for the confiscation of cryptocurrencies obtained illegally.

Eastern European countries are topping the list in cryptoasset adoption speed. Particularly, Ukraine and Russia have topped others because they have unduly intensive cryptocurrency usage. This shows that a bigger ration of nationals has moved away from traditional monetary activity to cryptoassets.

Ukrainian cryptocurrency market is under-regulated and therefore attractive for those wishing to take advantage of it for criminal purposes. Recently, law enforcers exposed a gang that has laundered about $42 million using cryptocurrency.

The outbreak of Covid-19 has pushed several governments and electoral commissions globally to the wall by making them look for other alternative means of organising and conducting free and fair elections. One of the available options is using a Blockchain-based e-voting method.

The Ukrainian Ministry of Energy offered the Energoatom energy generating company to explore the possibility of cryptocurrency mining using the potential of nuclear power plants.

The government of Ukraine will start overseeing all Bitcoin and cryptocurrency transactions, however, the current minister of finance has acknowledged that it is not virtual tokens but fiat currency which villains, fraudulent and corrupt public workers take advantage of.