Virtual assets will soon become common and widely used in everyone’s daily life.
The international company Favbet supports the state’s course towards the legalization of cryptocurrencies and related technological innovations.
“Favbet is constantly looking for and implementing innovative tools. Operations with crypto-currencies are no exception. We analyzed in detail the implemented projects in this direction, assessed international processing skills, carried out of tests. According to our estimates, virtual assets will soon become commonplace and widely used in every person’s daily life. The entertainment industry will not be an exception,” Mikhail Prikhodko told CLO Favbet .
As you know, on March 15, 2022, the President signed the law “On virtual assets”. This is a historic decision for a country that has been at the top of the Global Crypto Adoption Index for several years in a row.
However, the final release of cryptocurrencies from the shadows has not yet taken place, because the legislators have not yet voted changes to the Tax Code, which, in fact, the entry into force of the law is tied.
It is necessary to regulate not only cryptocurrency settlements, but also related technological innovations. This will certainly help increase the investment attractiveness of the market for international partners and attract the attention of new progressive clients. Processing of cryptocurrencies will open an opportunity for Ukrainian companies to be competitive in international markets.
Integrating new methods for business has several challenges. First of all, to the fact that the law “On virtual assets” has not yet been implemented. Currently, there is almost no legal basis for businesses to implement cryptocurrency payments.
Even if the law goes into effect, it will take time for regulators to develop the regulatory framework, develop clear rules and provide all the necessary explanations. Favbet hopes that this process will not be delayed.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.