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Finance has submitted documents for opening an account in the Ukrainian Bank IBOX BANK

Finance has submitted documents for opening an account in the Ukrainian Bank IBOX BANK

The Ministry of digital transformation of Ukraine reported that the Binance cryptocurrency exchange has submitted a set of documents for opening an account in the Ukrainian Bank IBOX BANK.

IBOX has been working on the market for more than 20 years, is a member of the Ukrainian Association of payment systems and aims to work with large companies. According to the Minister of digital transformation Mikhail Fedorov, cooperation between IBOX and Binance will allow Ukrainian cryptocurrency companies to work openly in the country, which can attract other international startups to Ukraine.

Recall that in November, the Maltese division of Binance concluded a partnership agreement with the Ministry of digital transformation of Ukraine on the development of new rules for regulating digital currencies to establish their clear legal status.

In addition, in September, Mikhail Fedorov proposed to legalize cryptocurrencies in the country, as well as oblige mining companies and traders to pay taxes. A few months later, the Verkhovna Rada of Ukraine amended the legislation to include digital assets in the law against money laundering in accordance with the FATF provisions.