Thousands of Ukrainians Enroll for Free Crypto Courses

Ukraine Minister of Digital Transformation Mykhailo Fedorov announced that Ukraine’s Digital Education portal had begun its first class with tens of thousands of Ukrainians enrolling; these classes are intended to initiate crypto literacy among Ukrainians.

Minister Mykhailo Fedorov further announced that the crypto course is yet to become the biggest virtual asset development project in the history of Ukraine. He stated that over twenty thousand Ukrainians have applied for the crypto course.

This online program is set to be free of charge for all Ukrainians who apply. It is said that it will comprise theoretical and practical work of 100 hours in which learners will be taught about the basics of money and financial knowledge and the introduction and growth of BTC.

Inclusive subjects to be taught are ETH, consensus algorithms, attractive contracts, crypto mining and trading, hot and cold wallets, and all the risks and opportunities of crypto trading.

Propelling Ukraine Towards Crypto Literacy

Fedorov announced in December that the government initiative began collaborating with Ukraine Digital Ministry, the metaverse platform Atlantis World, and the Filecoin Foundation Whitebit to make Ukraine a crypto-advanced country.

On February 2022, Verkhovna Rada, Ukraine’s parliament passed an “On Virtual Assets” law that was in full effect by the beginning of March; this was despite the invasion of Russia since the Ukrainian government has continued regulation and development of the cryptocurrency market.

A year after the war began, Ukraine progressed its work on the crypto legislative. Yurii Boiko, the country’s National Commission on Securities and Stock Market, has recently announced in an interview with Cointelegraph that Russia’s invasion has kept the country’s regulatory stance the same. Thus, it continues to follow the European Union’s advice on digital assets laws.

Minister Fedorov established Kyiv’s ambitious plan to turn Ukraine into one of the most digitalized European nations and the most advanced dominion worldwide in the next two years. He said this during the Davos World Economic Forum in January while speaking to journalists.

Ukraine has been dependent on funds and donations in the form of digital and virtual assets and coins to garner monetary resources for relief efforts and the county’s defense. Blockchain analytics organizations Chainalysis and Elliptic have recently exposed that Ukraine has raised over two hundred and twelve million dollars in crypto during the war, and nearly seventy million dollars were in wallets that the Ukrainian government provided.

Minor Setbacks

According to the commissioner of Ukraine’s National Commission on Securities and Stock Market, Yurii Boiko, the adoption of the crypto law in Ukraine has mostly been slackened by the need to develop essential amendments to the tax and civil codes of the country. In addition, the path to European integration by Ukraine is another issue.

Nevertheless, the commissioner emphasized that the National Commission on Securities and Stock Market has aggressively collaborated with international contemporaries to implement regulations like Markets in Crypto Assets.

Head of the parliamentary group Blockchain4ukraine, Oleksii Zhmerenetskyi, stated that a group under the National Commission of Securities and Stock Market is concluding a set of amendments to the “On Virtual Assets” draft law that will be adopted to Markets in Crypto Assets which the European Union parliament will vote on in April 2023.

Ukraine will launch the virtual assets market once the president signs the amendments. After this, the National Commission on Securities and Stock Market and the National Bank of Ukraine will prepare accompanying laws. This event is set to be done by the end of the year 2023.

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