The legal status of cryptocurrencies remains a mixed bag of regulatory positions, depending on the jurisdiction being considered. Others choose to openly embrace cryptocurrency, while some nations opt to have stricter regulations and prohibit blanket bans.

Ukraine appears to have chosen the second path, as the government encourages the legalization of crypto-related operations. Ukraine’s seemingly positive stance on cryptocurrencies also stands in stark contrast with neighboring Russia where officials are enacting regulatory roadblocks against the ownership and use of digital currencies.