Ukraine becomes an observer in the European Blockchain Partnership

June 21, 2022

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Ukraine becomes an observer in the European Blockchain Partnership

Ukraine has received observer status in the European Blockchain Partnership (EBP). Kyiv authorities hope that this move will help the Ukrainian government to implement blockchain technology and lead to more effective regulation of cryptocurrencies. Ukraine has been accepted as an observer by the European Blockchain Partnership (EBP), which aims to develop the EU blockchain strategy and create a blockchain infrastructure for public services. Observer status, which has been lobbied by the Ukrainian authorities and members of the crypto community, is a step towards full membership. The promoters of the country’s accession to the EBP were the head of the Intersectoral Association of Legislators Blockchain4Ukraine Oleksiy Zhmernetskyi and the head of the NGO “Virtual Assets of Ukraine” Kostyantyn Yarmolenko.

They requested the creation of a shared European blockchain infrastructure based on EBP in letters submitted to Ursula van der Leyen, the president of the European Commission, and other EU members in March of this year. The president of the board in Brussels agreed to their request and said Ukraine might participate as an observer. The nation has joined the project as the third non-EU nation after Liechtenstein and Norway.

Bornyakov recently participated in an online meeting of all members on behalf of the Eastern European nation in the EPP. A “more efficient regulatory framework, including the virtual stock market,” he continued, would result from this strategy. Zhmerenetskyi, the CEO of Blockchain4Ukraine, claims that by joining the blockchain alliance, Ukraine would be able to more easily recognise the college degrees and travel authorizations of millions of Ukrainian refugees living in Europe.

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