On Wednesday, the Ukrainian Parliament adopted the draft law “On Virtual Assets,” legally recognizing cryptocurrency in the country for the first time. The legislation is based on the existing standards developed by the intergovernmental policy-making organization, Financial Action Task Force on Money Laundering (FATF).

Ukrainian President Volodymyr Zelensky signed into a law a bill called On Payment Services that allows the country’s central bank to issue a central bank digital currency (CBDC), an announcement on the president’s official website said.