Ministry of Digital Transformation of Ukraine, the main government body behind local regulation cryptocurrencyplans to introduce analytical software Crystal for transaction tracking kryptowalutowych.
On July 23, the ministry signed an agreement with the company Bitfury which is a provider of digital technology services. The agreement includes access to online transaction infiltration software ktyptowalutowe named Crystal. Its task is to catch illegal transactions.
The ministry’s executives will be trained to professionally monitor the trading of virtual assets via the platform, the team said Crystal.
According to information on the Crystal website, the program supports a lot cryptocurrency, such as Bitcoin (BTC) Ether (ETH) Tether (USDT) XRP. Bitcoin Cash (BCH), and ERC-20 and ERC-721, or the so-called unreadable tokens, i.e. NFT. However, all indications are that the system does not detect those that provide privacy protection, such as Zcash (ZEC) and Monero (XMR).
Currently out of services Bitfury many Ukrainian banks and enterprises as well as non-governmental institutions use it.
Ukraine is becoming cryptocurrency friendly
The Ukrainian parliament also registered a bill on virtual assets, proposing legalization and establishing a regulatory framework. In May 2020, the Ministry of Digital Transformation published the draft law “On Virtual Assets”. As reported, the bill aims to define the legal status of digital assets in Ukraine.
According to the Ministry, the main goal of the new cooperation with Bitfury is the rapid creation and legalization of the virtual asset market in the country. Software Crystal is to help promote a safe industry kryptowalutowej in Ukraine.
“Team Crystal Blockchain they happily help the Ukrainian government as the country gradually opens up to cryptocurrencies. We are proud to be able to help implement anti-money laundering laws in Ukraine. “
– He said Kyrylo Chykhradze, product director Crystal Blockchain.
Bitfury a world leader
The parent company of Bitfury under which it is subject Crystal Blockchain, is one of the largest companies of this type in the world. It is known for providing blockchain technology to the Russian government. This allows them to vote online. The company is also working with the Japanese government on mining funds Bitcoin (BTC).