{"id":88200,"date":"2023-12-13T14:23:06","date_gmt":"2023-12-13T12:23:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88200"},"modified":"2025-09-13T16:30:56","modified_gmt":"2025-09-13T13:30:56","slug":"ukraines-ministry-of-digital-transformation-flags-key-hurdles-to-web3-development","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ukraines-ministry-of-digital-transformation-flags-key-hurdles-to-web3-development\/","title":{"rendered":"Ukraine’s Ministry of Digital Transformation flags key hurdles to Web3 development"},"content":{"rendered":"

Lack of regulatory framework for the crypto industry and banking restrictions are named as the main reasons hindering the development of Web3<\/a>-technologies in Ukraine. This is evidenced by the \u043e\u0442\u0447\u0435\u0442<\/a> of the Ministry of Digital Transformation.<\/p>\n

Fifty Ukrainian Web3 entrepreneurs took part in the study.<\/p>\n

Since the updated version of the law \u201cOn Virtual Assets\u201d<\/a> has not yet been adopted, specialized startups have to register their business outside Ukraine.<\/p>\n

Additionally, their activities are affected by lack of access to banking services<\/a> and currency and hryvnia restrictions imposed in connection with martial law. As a result, companies find it difficult to meet financial obligations to counterparties.<\/p>\n

Moreover, Ukraine needs to integrate European norms MiCA<\/span> into its local cryptocurrency legislation. However, rushing in stricter requirements<\/a> risks driving Web3 startups to migrate to other countries.<\/p>\n

To overcome these problems, the Ministry of Digital Transformation is pushing alternative draft laws<\/a> on \u201cOn Virtual Assets\u201d and on the taxation of cryptocurrency transactions. In the ministry\u2019s view, this would neutralize the listed negative factors.<\/p>\n

\n

\u201cIn wartime conditions, it is strategically important to develop new sectors of the digital economy. The Web3 industry can become a powerful driver of technological and economic development for the country and strengthen leadership in the field of digitalisation,\u201d said Oleksandr Bornyakov, Deputy Minister of Digital Transformation for IT Development.<\/p>\n<\/blockquote>\n

The Ministry’s team will take the results of its study into account in shaping state policy in the digital economy.<\/p>\n

Earlier in November, Ukraine announced the creation of a Web3 projects sandbox<\/a>.<\/p>\n

ForkLog previously analysed the features of the draft laws proposed by the Ministry of Digital Transformation.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lack of regulatory framework for the crypto industry and banking restrictions are cited as the main factors hindering the development of {{AOPEN_1}}Web3{{ACLOSE_1}}-technologies in Ukraine.<\/p>\n","protected":false},"author":1,"featured_media":88201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,16,1110],"class_list":["post-88200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-ukraine","tag-web-3-0"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=88200"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88200\/revisions"}],"predecessor-version":[{"id":88202,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88200\/revisions\/88202"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/88201"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=88200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=88200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=88200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}