Bitcoin “Creates High-Tech States,” according to Ukraine’s Vice Prime Minister

  • Ukraine’s Vice Prime Minister Mykhailo Fedorov expressed approval on Bitcoin mining.
  • He said the country will become more “high-tech” with Bitcoin usage.
  • Last year, the government legalized all virtual assets, including cryptocurrencies.

Ukraine’s Vice Prime Minister and Minister of Digital Transformation Mykhailo Fedorov remarked that Bitcoin mining will make Ukraine a ‘’high-tech state’’ after the government legalized cryptocurrency last September.

Along with cryptocurrency, the government legalized other virtual assets.

He affirmed that the development of the crypto industry can attract transparent investors and empower the identity of the country with the high-tech realm.

Ukraine has been crediting itself with the key decentralized finance axis in Eastern Europe and across the world. Later on, the imposed basic regulations on digital financial assets made the country partially halt its crypto plans.

Brokerchooser, a data-driven comparison tool, found Ukraine as the leading country with the most interest in cryptocurrency. The number of crypto owners in the country is 5,565,881, while the total crypto searches amount to 51,470.

In addition, Ukraine stands fourth on the Global Crypto Adoption Index, as analyzed by Chainalysis.

Primex Finance (a brokerage protocol developing company) Co-founder Dmitry Tolok said:

Crypto is another quite easy asset. People are just throwing money at it because there are not a lot of other investment opportunities in emerging markets.

With the likes of the flagship crypto Bitcoin, many Ukrainian software developers noted that DeFi is what it is today because of the wide array of investment opportunities.



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