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Ukraine Has No Plans to Regulate Crypto Mining

July 10, 2018
The Main Bloq

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Ukraine Has No Plans to Regulate Crypto Mining

Ukranian miners can now be at ease, as officials have stated they have no intention of regulating the popular crypto mining.

asic miner

Up until now, cryptocurrency miners in Ukraine have been living in fear and uncertainty. Crypto mining companies worried they would be fined, eventually, or that somehow their equipment could be seized.

However, officials from the State Service for Special Communications and Information Protection of Ukraine have clarified the department currently has no interest in issuing regulations for cryptocurrency mining. A representative from the Office of Effective Regulation, Igor Samohodsky, emphasized crypto miners have been operating in the shadows, fearful of the repercussions.

Ukrainian crypto miners are allegedly generating more than $100 million a year which would generally attract authorities, but not in Ukraine. The country has proven to be extremely crypto-friendly, going as far as erecting a statue in Satoshi Nakamoto’s honor. The plans were announced earlier this month, and the statue is expected to be where once Lenin’s stood.

There have been reports of a proposed stated-issued cryptocurrency, earlier this year. In a statement released by Ukraine’s security council, The National Bank…

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