Bittrex Exchange Denies It Sought to Collaborate With Ukrainian Government

A Ukrainian authorities official stated that United States cryptocurrency alternate Bittrex sought to collaborate with the Ukrainian authorities on growing the nation’s cryptocurrency business.

In a Nov. 20 interview with home blockchain media outlet ForkLog,. Deputy Minister of Digital Transformation Alexander Bornyakov claimed that Bittrex contacted the Ukrainian authorities to this finish.

Referring to Ukraine’s current memorandum of understanding with Binance to collaborate on creating crypto laws within the nation, Bornyakov stated, “After we introduced it, we started receiving requests from Bittrex, from Coinbase.”

Bittrex didn’t contact the Ukrainian authorities

Bornyakov’s assertion was quickly reported by native publications, deciphering it as Coinbase and Bittrex searching for to open workplaces in Ukraine. Cointelegraph contacted each exchanges for clarification, and a Bittrex spokesperson denied Bornyakov’s assertion, saying, “We wish to affirm that nobody from Bittrex Global has been involved with an official of the Ukrainian authorities.” Another spokesperson added:

“Bittrex is committed to helping foster innovation of blockchain technology around the world. However, Bittrex has not reached out to Ukraine’s Deputy Minister of Digital Transformation to partner with them.”

At press time, each Coinbase and Bornyakov haven’t responded to Cointelegraph’s request for remark. This story will probably be up to date with their feedback ought to they reply.

Cointelegraph beforehand reported that the Ukrainian authorities and Binance are forming a working group centered on creating “new virtual assets and a virtual currencies market in Ukraine.” 

Binance CEO Changpeng Zhao stated that the legalization of cryptocurrencies and the adoption of progressive laws can play a key function in bringing optimistic development to the economic system, in addition to entice additional funding.

Blockchain and crypto lobbying corporations improve in quantity

Crypto and blockchain firms are starting to work extra carefully with governments on growing laws for the business. At the top of 2019, there have been solely 12 entities in Washington, D.C. lobbying on points associated to blockchain expertise. One 12 months later the quantity tripled to 33. By May 2019, it had elevated to 40.

Lobbyists’ particular pursuits differ throughout organizations, but a search of the Lobbying Disclosure Act Database reveals that the largest pursuits embody cryptocurrency taxation, standardizing ideas and definitions, and Anti-Money Laundering provisions.

Along with main business leaders like Digital Currency Group and Polychain Capital, Coinbase shaped purportedly the primary supposed lobbying group representing the blockchain business in Washington, D.C., in September 2019.

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