Two bills to provide legal frameworks for cryptocurrencies including bitcoin have now been submitted to the Ukrainian parliament The latest one proposes recognizing them as financial assets It also defines cryptocurrency derivatives as well as proposes simplifying taxation and reducing electricity tariffs for mining activities

The crypto lender reportedly made significantly undercollateralized loans and illiquid investments leaving only a small buffer in case of a downturn

Bitcoin and the asset class of cryptocurrencies despite increased acceptance and adoption are a polarizing subject These technologies are either lauded as the future of finance while others call it a bubble a Ponzi scheme and much worse

Two bills to provide legal frameworks for cryptocurrencies including bitcoin have now been submitted to the Ukrainian parliament The latest one proposes recognizing them as financial assets It also defines cryptocurrency derivatives as well as proposes simplifying taxation and reducing electricity tariffs for mining activities