Mikhail Fedorov Anticipates Ukraine to Start Using CBDC in 2023
The Ukraine Vice Prime Minister, Mikhail Fedorov, announced his desire for the country to become the leading crypto jurisdiction worldwide. Fedorov revealed his vision to transform Ukraine into the first to use the new Central Bank Digital Currency (CBDC) – e-hryvnia.
Fedorov Unveils His Crypto Enthusiasm
In his address at the World Economic Forum, Fedorov expressed the desire to receive his salary through e-hryvnia. His unwavering desire is drawn from Tascombank’s report on the completion of e-hryvnia pilot testing a few days ago.
From the report, the issuance of Ukrainian CBDC involves the giant internet protocol Stellar Network. Fedorov reiterates his wish to be the first user of the e-hryvnia during its final trial.
In addition, Fedorov argued that in the next trading year, the National Bank of Ukraine ( NBU) is expected to develop new taxation laws to regulate e-hryvnia and crypto activities. He restated that earlier last year, the Ukraine regulators had passed the digital asset legislation into law before the Russian invasion.
Fedorov reaffirmed that the new crypto-friendly regulation would push Ukraine to be the leading cryptocurrency jurisdiction globally. He cited that the new laws might be complex but will provide an inclusive approach to legalizing cryptocurrency in Ukraine.
Future of Crypto Currency in Ukraine
Ukraine successfully conducted a cryptocurrency fundraising in 2022 for its ailing armed forces. It was reported that the exceptional fundraising hosted on the crypto space generated over $178M that was utilized to procure clothing for the army clothing and the acquisition of military vehicles, field equipment and vessels.
Fedorov acknowledged the dedicated efforts of the Ukraine crypto supporters whose loyalty to their country was demonstrated during the Russian invasion.
Despite Fedorov’s positive stance on crypto adoption, Ukraine is among the top three countries with the highest global adoption. Ukraine ranks second best in crypto use with the highest number of crypto investors, entrepreneurs, and custodians.
According to Coinatmradar, at the end of this year, Ukraine expects to install 150 more Bitcoin ATMs within the country. Last April, the first two-way Bitcoin ATM was installed to expedite the crypto transaction.
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