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Ukraine’s parliament has passed a bill on virtual assets, making cryptocurrency and other virtual assets legal in the country. The definition of virtual assets in the Virtual Assets Act includes cryptocurrencies such as Bitcoin as well as tokenized assets. It says virtual assets cannot be used as a means of payment in the country, but citizens can legally hold and trade them. Crypto companies need a license to operate in Ukraine.
Bitcoin is finding a solid support above $45,000. After a small rally in Bitcoin yesterday, the bulls haven’t made substantial progress yet. The inability to break through the $47,500 barrier means that the short-term trend is still down. The good news is that Bitcoin has remained above $45,000 and is now pushing towards $47,000. Its first major support is around $44,500. If Bitcoin breaks through the support zone at $44,500, prices could extend their decline. In such a scenario,Bitcoin prices could test support at $43,000.