At the beginning of 2016, a significant number of Bitcoin mining capacities were concentrated in Ukraine. By
December 2016 we had hosted one of
the first crypto conferences on the European continent — BlockchainUA. Dedicated to the latest inventions in the field
of financial technology, it gathered more
than 1,000 people in the city of Dnipro.
Thus, a community of blockchain developers gradually began to form in
Ukraine, which is now a proactive and
influential community. Then, our
government agencies decided to join in the consolidation of Ukraine's success in the crypto world.
One of the Government's priority reforms is to create favourable conditions for doing business. To achieve this goal, the Government's efforts are aimed at improving the regulatory environment (deregulation) along with the implementation of regulatory policy.
- Firstly, the government has been working on deregulation and cancelled over 450 outdated regulations.
- Secondly, it has introduced a transparent VAT refund system and a more effective Privatization law.
- Also, it has adopted Business Pressure Relief Law to prevent abuse of business during pre-trial investigations and decreased the number of inspections of businesses.
- Another important step to improving the business climate was the creation of The High Anti-Corruption Court of Ukraine early in 2019.
Currently, the state is working on many other laws aimed at improving the business environment in areas identified in the World Bank Doing Business Index.