INSUBCONTINENT EXCLUSIVE:
Ukraine had legalised cryptocurrency just days before Russia's invasionAs the world looks with weary eyes at Ukraine, there has been a
growing discussion in far away capitals about the economic fallout of Russia's invasion
Some say this conflict will significantly damage the economies of both countries, others are optimistic
But how and, more importantly, why? Just days ahead of the war breaking out, Ukraine legalised cryptocurrency
This created a legal market for cryptocurrency in Ukraine.At the time, Mykhailo Fedorov, Ukraine's deputy prime minister and minister of
He added that Ukrainians will now have convenient and secure access to the global market for virtual assets.While the Ukraine government did
not say whether the move was linked to any military conflict threat, tensions had been high at the Russia-Ukraine border for months
The bill was nonetheless passed on February 17, only a week before the invasion began.After the Russian attacks, the official Twitter handle
of the Ukrainian government sought donations from everyone, including those outside the country
Now accepting cryptocurrency donations
Ether and Tether, a token that tracks the US dollar.The Ukraine government has shown great enthusiasm to crowdfund its response to the
more than $24 million in cryptocurrency donations so far.Cryptoassets have emerged as a key alternative crowdfunding method because they
allow quick access to the receiver by removing intermediaries from the transaction process
Bypassing intermediaries like banks allow the receiver to minimise the threat of donations being held up or blocked by financial
