Did Ukraine Lose from Cryptos ?
The largest crypto exchange in Ukraine, Kuna, stated that the country has lost tens of billions of dollars from 2016 until now, due to revenues coming from the crypto market.
From 2013 and on, more than $331 billion of real capital inflowed in Ukraine and invested in cryptos, making investors to constantly try to overcome the banking system.
Ukraine had been in a tricky situation where there was a lot of cheap energy for the miners, low liquidity from foreign capital and investments while the locals were completely abandoned from the investment world and from investment choices.
The sector surge didn’t comply with the respective legislative and tax regulation and this ended up in the current economic situation.
If there was a law that would tax the crypto profits and transactions at the lower level, nowadays Ukraine would have collect around $53 billion.
Maybe the next day in Ukraine will include cryptos also…………
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