Two weeks ago, Ukraine adopted a new law on virtual assets. It is a fundamental law, and it establishes the principles of how the crypto market will be regulated. The law does not contain any specific requirements and direct obligations. Nevertheless, the existing opinions that cryptocurrencies do not need any regulation, even that it harms them, have stirred up the Ukraine crypto community.

It should be understood that the crypto-anarchist movement is quite strong in Ukraine. Historically, one of the first anarchist republics in the world was proclaimed in these lands a hundred years ago — the Free Territory. If you’ve never heard of this, I highly recommend reading about this period of history. It is an exciting experiment. But these thoughts got me thinking about how much regulation really harms bitcoin.

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