Looking deeper into Foin price movements and the project’s operations, Cointelegraph discovered a number of red flags for investors’ consideration.
Ukraine is the second largest state by territory in Eastern Europe. According to the International Monetary Fund, Ukraine’s economy is ranked 50th in the world by nominal GDP and purchasing power parity. In terms of cryptocurrency, it was stated in 2014 that all trades using virtual currencies and all benefits from selling them is allowed only for registered financial organizations, such as banks. In 2017, the Ukrainian National Bank didn’t admit Bitcoin as real money without certain regulation. By 2018, Ukraine has almost finished legislation aimed at regulating all operations with digital assets. Recently, the Ukrainian National Bank has expressed the readiness to collaborate with the Bitcoin foundation to work on the new project called Ukrainian Bitlicense.
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