New crypto-focused legislation in Ukraine will reportedly give green light to crypto-enabled payments, regardless of not legally viewing crypto as legal tender. 

Specifically, Deputy minister of Ukraine’s Ministry of Digital Transformation Oleksandr Bornyakov reportedly shared his confidence that it would be “quite legal to pay with cryptocurrencies” across Ukraine, via payment intermediaries that facilitate converting crypto to fiat. 

The official additionally claimed via a Friday interview with local financial publication Minfin that Ukraine’s draft legislation focusing on digital assets “clearly states” that crypto is not legally viewed as legal tender within the nation, and only enables crypto purchases. 

Nonetheless, the bill reportedly specifies that there is still a window for payment processors within the nation to offer services dedicated to the crypto-to-fiat conversion, to make payments deriving from crypto available. 

“Today, the legislation in Ukraine also does not allow you to pay in dollars, but you can easily pay for purchases with a dollar card. Currencies are converted instantly during payment. […] Therefore, it will be quite legal to pay with cryptocurrencies in Ukraine, but through an intermediary.”

Bornyakov further claimed that the upcoming bill will grant official legitimization, regarding the process of crypto trading and reporting. 

 “We expect that there will be a whole market of intermediary services for payment of goods by cryptocurrencies, their storage, and exchange. This will expand the possibilities of their use” 

Initially, the Ministry of Digital Transformation reportedly suggested in the second reading that took place in June this year, that the country adopt an updated draft bill “On Virtual Assets”. The Russia-based e-bank Monobank also revealed its intention of rolling out a debit card featuring Bitcoin trading after that as well.