The bitcoin rate set a new record on Monday, rising above $109 thousand before the inauguration of US President-elect Donald Trump.
During the election campaign, the politician publicly spoke in support of the cryptocurrency market, and traders expect him to ease regulations in this sector.
On Monday, the price of bitcoin rose to $109,241 thousand, Barron’s writes. According to CoinDesk, as of 10:00 a.m., the rate is $107.617 thousand.
Last weekend, Trump and his wife Melania launched their own cryptocurrencies on the Solana blockchain.
The politician himself introduced his TRUMP memecoin on the X social network and on his own platform, The Truth Social, on Saturday. At one point, the capitalization of this cryptocurrency rose to $15 billion, but fell below $8 billion after the launch of the MELANIA memecoin on Sunday, which diverted some of the funds of crypto investors.
The total number of TRUMP memecoins is limited to 1 billion, with 200 million tokens available initially, according to the official website. 80% of the memecoins are owned by CIC Digital, a subsidiary of the Trump
Organization, as well as Fight Fight Fight Fight LLC (corresponding to the Trump campaign slogan “Fight, fight, fight!”), in which CIC Digital is a co-owner.
CIC Digital used to sell Trump’s NFTs and campaign merchandise.
The Ministry of Digital Transformation of Ukraine is interested in participation in the regulation of the crypto assets market, a representative of the ministry Oleksandr Borniakov said at the Blockchain Society and the State of Ukraine open-door meeting in Kyiv.
“The ministry’s plans are to ensure that mining is launched legally after determining its status. That is, those involved in mining could do this without fear that they are in some kind of “gray zone,” he said.
Borniakov said that the Ministry of Digital Transformation also considers its task to ensure all conditions for international cryptocurrency exchanges to work in the country.
According to a message in the Facebook social network that, in accordance with the resolution published last week, the Ministry of Digital Transformation is responsible for the formation and implementation of the government policy in the field of the IT industry, therefore the issue of introducing blockchain technology, its application in public administration and the development of virtual assets is extremely urgent.
According to the ministry, the state plans for the next two to three years the following: legislatively define terminology; work out a compromise version of taxation in this area; by the summer of 2020, implement the recommendations of the Financial Action Task Force on Money Laundering; introduce blockchain technology into public registers; legalize mining and attract international cryptocurrency exchanges to the country.
In this regard, in the near future, the Ministry of Digital Transformation plans to sign a memorandum with the Blockchain4Ukraine inter-faction parliamentary group of the Verkhovna Rada, including more than 50 deputies, the Blockchain Association of Ukraine (BAU), the Better Regulation Delivery Office (BRDO) and other institutions.
“A concept that is understandable for all players should be developed in Ukraine – definitions, information exchange, who regulates and how, issuing licenses, limits, and other things. It will be great if the Ministry of Digital Transformation assumes this… A regulator of market behavior in this area should be defined, as without this, the rights of consumers and investors may be infringed,” acting Director of the Department of Strategy and Reform of the National Bank of Ukraine (NBU) Mykhailo Vidiakin said, commenting on this issue in the Facebook social network.
He also called for the prompt adoption of the required legislation and the development of a strategy with specifying the place of crypto assets in the development of the financial market of Ukraine.
“Now we are developing a strategy for the development of the financial sector until 2025, in which regulators accept proposals from the market. Documents and a form for submitting e-proposals are available on the NBU’s website in the Comprehensive Program for the Development of the Financial Sector section,” Vidiakin said.
