Ukraine will become the world’s best jurisdiction for crypto assets, the minister overseeing the country’s digital transformation promised. Speaking with media at the World Economic Forum in Davos, Mykhailo Fedorov praised the support from the crypto community for his war-struck nation.

During the early stages of Russia’s military invasion, donations through cryptocurrency were “critically helpful to Ukraine,” the country’s Vice Prime Minister and Minister of Digital Transformation Mykhailo Fedorov told journalists in Davos, Switzerland.

During a press conference at the sidelines of the World Economic Forum (WEF), Fedorov explained that with currency restrictions imposed with the martial law, Ukraine was nevertheless able to quickly purchase everything it needed for its armed forces, thanks to the support of the global crypto community.

The high-ranking representative also emphasized that the government is developing the necessary legal framework with a comprehensive approach to the full legalization of cryptocurrencies. A law “On Virtual Assets” was passed by the Verkhovna Rada, the Ukrainian parliament, in mid-February.

(By Lubomir Tassev)