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Ukraine’s Digital Transformation Ministry approves charity NFT project

Mykhailo Fedorov, Vice Prime Minister of Ukraine and Minister of Digital Transformation of Ukraine, on Thursday tweeted out support for Avatars for Ukraine, a non-fungible token (NFT) project directly benefiting humanitarian and defense tactics in Ukraine.  The project involves 70 digital artworks that emerged as a result of the Russia-Ukraine war, featuring Ukrainian imagery and resistance to Russian forces. All proceeds from digital art sales fund Ukrainian war endeavors. Avatars for Ukraine is approved by the Ukrainian Ministry for Digital …

Ukraine launches website for donating and buying NFTs

Ukraine’s government launched a website where people can donate and buy non-fungible tokens (NFTs), in an attempt to raise more funds for the war efforts. The new site lists several NFTs, including a mfer and a MoonCat with a Ukrainian flag, and links to their pages on OpenSea, where users can place bids to buy them. The mfer and the MoonCat have asking prices of five ETH and two ETH, respectively. “All funds as always will contribute to the Ukrainian …

Latest EU sanctions force Binance to crack down on Russian users

Crypto exchange Binance is enforcing tougher Know Your Customer (KYC) checks for Russian users after the latest wave of European Union sanctions. In a blog post today, Binance said that it will limit services for “Russian nationals or natural persons residing in Russia, or legal entities established in Russia” with crypto holdings exceeding €10,000 (around $10,900), following the EU’s fifth package of anti-Russia restrictions. Users that fit this description will be made to complete a proof-of-address check. Ukraine’s deputy minister …

Ukraine’s NFT collection is still far from selling out after a week

Midway through last week, the Ukrainian government launched its much-anticipated NFT collection, with the goal of raising around $1 million for war and humanitarian efforts. Yet after a week has passed, hundreds of the 2,182 NFTs have yet to be sold.  It’s the first time a nation has launched its own NFT collection. But so far the sale has been met with much less enthusiasm than other high-profile NFT sales, which often sell out immediately. The collection was announced at …

Ukraine president Zelensky signs crypto regulation law

Ukrainian president Volodymyr Zelensky signed a law “on virtual assets” on Tuesday, bringing the crypto “out of the shadows” and legalizing it. The new law appoints the agencies that will regulate the market and establishes rules around virtual assets ownership rights, among other things, according to a statement. Ukrainian and foreign-based cryptocurrencies exchanges will be allowed to operate and banks will be able to open accounts for crypto companies. “We believe that crypto industry offers new economic opportunities. We will …