Ukraine Inculcates FATF Standards, Legalizes Crypto Payments

The Legislative arm of Ukraine, The Verkhovna Rada, has passed an amendment to legalize crypto payments in the country. The anti-money laundering (AML) law complies with the Financial Action Task Force (FATF) standards. The law mainly handles the maintenance of virtual assets and virtual asset service providers (VASP’S). It provides clear guidelines for traders and businesses on how to properly conduct a transaction in the future. In conclusion, crypto payments are now a legal entity in Ukraine. 

This AML law saw strong support in the final hearing on Dec 6, 2019, with over 240 deputies favoring it. 

Source link

Leave a Comment

Your email address will not be published.