Ukraine has been granted observer status in the European Blockchain Association (EBP). Kyiv officials hope the move will make it easier for the Ukrainian government to implement blockchain technologies and lead to the adoption of more efficient cryptocurrency regulations.
Ukraine moves towards membership of the European Blockchain Association
Ukraine has been accepted as an observer in the European Blockchain Partnership (EBP), an initiative to develop an EU blockchain strategy and build blockchain infrastructure for public services. Observer status is a step towards full membership, which Ukrainian authorities and members of the cryptocurrency community have been pushing.
The push for the country’s accession to the EBP was initiated by Oleksii Zhmerenetskyi, chairman of the Blockchain4Ukraine interfactional association of Ukrainian lawmakers, and Konstantin Yarmolenko, who chairs the non-governmental organization “Ukrainian Virtual Assets”.
In March of this year, they sent letters to European Commission President Ursula von der Leyen and other EU representatives calling for the establishment of a common European blockchain infrastructure based on EBP.
In response to his appeal, the head of the executive body in Brussels confirmed Ukraine’s membership prospects as an observer. The country has now become the third non-EU country to participate in the initiative, besides Norway and Liechtenstein.
“Ukraine’s integration into the European Blockchain Association will strengthen joint work on the introduction of blockchain technology into government records and services,” said Ukraine’s Deputy Minister of Digital Transformation Alexander Bornyakov, according to his department.
Bornyakov, who represents the Eastern European nation on the EBP, recently attended an online meeting of all members. He added that joining will also promote “a highly efficient regulatory environment, including for the virtual asset market” in the country.
According to the head of Blockchain4Ukraine, Zhmerenetskyi, by joining the blockchain association, Ukraine will be in a better position to boost recognition of its higher education diplomas and driver’s licenses for millions of Ukrainian refugees in Europe.