The Minister of Economy of Ukraine has directed various ministries, agencies and the National Bank, to develop the necessary legislation to include cryptocurrency mining in the state register of economic activities.

It seems that the government of Ukraine intends to legalize the mining of cryptocurrencies, adopting new laws in this regard, to allow the executive of Kiev, greater control of this matter. Last Thursday's meeting, the Minister of Economic Development, Stepan Kubiev, has ordered other departments and agencies to do whatever is necessary for the inclusion of cryptocurrency mining within the state category of economic activities.

In addition, the ministers of economy, finance, justice, and energy, along with the agency responsible for e-government and the Ukrainian statistical service, are preparing the draft documents for a registration amendment. The National Bank of Ukraine and the Security Service will also participate in the drafting process. Kubiev stated , "By adding the cryptocurrency mining sector to the tax register, we will bring it out of the shadow economy and collect more budget revenue."

Kubiev sees how legislation in favor of the cryptocurrency mining industry can allow the entry of qualified ICT professionals to the country. He also hopes the pressure on the country's crypto community to ease.

This is not the first attempt to legalize a cryptocurrency-related activity in the country, and it was discussed during a cybersecurity meeting in January. The National Security Council established a task force charged with finalizing regulations regarding the circulation of digital currencies and the enforcement of encrypted transactions.

In addition, the cyber police unit of Ukraine has asked the different government agencies to make a decision, legalizing or banning them, but taking them out of limbo where they are now. The country's Minister of Justice, Pavel Petrenko, that cryptocurrencies, such as Bitcoin, should be included in the regulatory framework.

It should be noted that parliament has made no progress in developing a legal framework. There are three drafts submitted since last October. The first document defines cryptocurrencies as property that can be exchanged for goods and services. The second says that cryptocurrencies are like financial assets. The third, modifies the tax code for the introduction of tax exemptions for earnings and income from cryptocurrencies through trading and mining.