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Ukraine Could Recover $10 Billion with Proper Cryptocurrency Regulation
Ukraine Could Recover $10 Billion with Proper Cryptocurrency Regulation
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BTCCSquare news:
Ukraine stands to recover over $10 billion in lost revenues through adequate cryptocurrency regulation, according to a study by the Royal United Services Institute (RUSI). The war-torn nation's unregulated crypto market has become a haven for criminal activity, from corrupt officials to Russian military operations exploiting the lack of oversight.
The Kyiv Independent highlights that enforcing the stalled 2022 "On VIRTUAL Assets" law could help law enforcement crack down on money laundering, identify illicit actors faster, and generate more than $200 million in tax revenue from crypto exchanges. Ukraine boasts one of the world's highest crypto ownership rates but remains without a comprehensive regulatory framework.
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