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Ministry of Digital Transformation of Ukraine cooperates with Currency.com

Working party will collaborate on drafting legislative proposals

The Ukrainian Ministry of Digital Transformation has signed a memorandum of cooperation with Belarusian company Currency.com on developing Ukrainian legislation in the field of IT and crypto regulation. Currency.com is the world's first regulated crypto and tokenised securities exchange.

Together with Currency.com’s experts, a working party from the Ministry of Digital Transformation will work on drafting legislative proposals using the Belarusian experience of successful creation of IT regulating legislation from scratch.

“The Republic of Belarus is showing great success in the development of the domestic IT market,” said Alexander Bornyakov, Deputy Minister of Digital Transformation of Ukraine. “The more we study the experience of this country, the deeper we understand how much work has been done, and what results have been achieved. We are pleased to work with the Currency.com team to develop Ukrainian legislation”.

The High-Tech Park model has gained great success in Belarus. This is a special tax and legal ecosystem aimed at creating favorable conditions for the development of software, information and communication technologies in Belarus. The HTP will contribute to the increased competitiveness of the national economy. According to Nikolai Markovnik, the consultant of the HTP Supervisory Board, this model will be useful for Ukraine for stimulating the national IT sector.

“This year, the HTP expects $2 billion (€1.8 billion, £1.53 billion) in revenue. Over two years this number has grown more than twice. The tax effect for the state budget is approximately $350 million. In Ukraine, these numbers can be several times higher,” said Nikolai Markovnik. “We are pleased to help our Ukrainian colleagues in the development of IT legislation and believe that new technologies and the knowledge economy will become a solid foundation for deepening relations between the countries of our region and will contribute to their independence”.

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