Ukraine will participate in the European Blockchain Partnership

Ukraine has been granted observer status within the European Blockchain Partnership (EBP). The country’s representative is Oleksandr Borniakov, Deputy Head of the Ministry of Digital Transformation for IT Development.

According to the official website of the Ministry of Digital Transformation of Ukraine, the global goal of participation in the project is to create a European blockchain and integrate the digital economic space of the EU and Ukraine. The next step will be to expand the network of interstate blockchain partnerships between Ukraine and other countries.

«Ukraine's integration into the EBP will strengthen joint work on the implementation of blockchain technology in state registries and services, as well as contribute to the creation of a highly efficient regulatory environment, in particular for the virtual asset market,» said Oleksandr Borniakov, Deputy Minister of Digital Transformation for IT Development.

Ukraine’s accession to the EBP was initiated by Konstantin Yarmolenko, CEO of the Virtual Assets of Ukraine association, and Oleksiy Zhmerenetsky, Head of Blockchain4Ukraine. Yarmolenko and Zhmerenetskyi appealed to representatives of EU institutional bodies, including European Commission President Ursula von der Leyen, to include Ukraine as a full member of the EBP. The head of the European Commission confirmed the prospect of Ukraine joining the partnership as an observer.

Despite the war in Ukraine, the country is actively developing in all areas, and the cryptocurrency sector is no exception. Thus, on March 16, Volodymyr Zelenskyy signed the draft law «On Virtual Assets», which regulates the responsibilities of crypto exchanges and other service providers. Any market participants, from buyers to suppliers, will receive full legal protection provided by the laws of Ukraine. Ukrainians will also be able to declare income from their virtual assets.