The Bitcoin Legalization Bill of Ukraine may soon be history after the people who were in the forefront decided to call it a day. According to reports, Bitcoin Embassy in Ukraine along with the leading Bitcoin exchange in the region, KUNA have been working on a draft law to make bitcoin legal in the country.
The main reason for Michael Chobanian dropping his fight towards legalizing bitcoin in the country is unknown. However, the news publications have quoted him saying that Bitcoin is already legal in the region and his fight doesn’t really make much sense. Reportedly, he also justified his actions by expressing doubts about companies setting up businesses in the country even if the most liberal laws on cryptocurrencies were passed by the Ukrainian parliament.
Michael Chobanian has been the face of this crusade to legalize bitcoin in Ukraine. Apart from being a bitcoin activist, He is also the founder of the country’s Bitcoin Embassy and the bitcoin exchange named, KUNA Bitcoin Agency. Located Kiev, Ukraine, KUNA Bitcoin Agency is the first bitcoin platform in the Eastern European region. The company has been involved in promoting and building the digital currency infrastructure in the region. KUNA has been operating the bitcoin exchange for a while now, selling and buying bitcoin since 2014. The platform also sells Bitcoin vouchers and operates a bitcoin ATM in the region as well.
According to Michael Chobanian , even if they manage to introduce favorable regulations for bitcoin, to be treated on par with other currencies, they won’t be making much difference. Especially with the country’s financial system in tatters and the presence of over 147 different taxes and currency regulations make it impossible as it is to operate any business, let alone bitcoin. In addition to a regulatory headache, there are government and law […]
