Third non-EU country, Ukraine, joins the European Blockchain Partnership

After Norway and Liechtenstein, Ukraine grew to become the third nation outdoors the European Union (EU) to hitch the European Blockchain Partnership (EBP), an initiative derived by 27 member states to ship cross-border public companies.

The Ministry of Digital Transformation of Ukraine announced the nation’s transfer to hitch the EBP as an observer on June 17. With the final word objective of integrating its digital financial area with the EU, Ukraine plans to increase its interstate blockchain community partnership with different nations.

Ukraine’s intent to hitch the EBP dates again to July 2021, when Oleksii Zhmerenetskyi, the top of the Parliamentary group, Blockchain4Ukraine, and Konstantin Yarmolenko, the founder and CEO of Digital Property of Ukraine, wrote a letter to Ursula von der Leyen, the president of the European Fee. The letter declared Ukraine’s curiosity in becoming a member of the EBP and the European Blockchain Companies Infrastructure (EBSI). von der Leyen later confirmed the prospect of Ukraine’s accession to the EBP as an observer.

Talking to Cointelegraph, Yarmolenko said Ukraine’s curiosity in operating test-node of the EBSI and pilot use circumstances of the cross-border public companies based mostly on the blockchain know-how. He highlighted that the cryptocurrency donations throughout the Russia-Ukraine conflict “proved as essential help,” stating:

“Subsequent step is full blockchain integration of Ukraine and EU based mostly on EBP/EBSI initiatives.”

After working with the EBP on blockchain pilot use circumstances as an observer, Ukraine goals to achieve full membership. Yarmolenko additional revealed that Ukraine is focusing on extra blockchain partnerships to supply the residents of Ukraine with cross-border public companies together with verification of academic credentials/diplomas and id credentials and refugee/asylum registration and help.

Whereas sharing particulars concerning the partnership, Yarmolenko said that the transfer to hitch the EBP is a option to strengthen ties with the EU, including that “I’d even name it blockchain integration with EU.”

Moreover, mentioning one of many benefits of the EU-wide blockchain partnership, Zhmerenetsky burdened that Ukraine’s accession to the EBP would scale back the popularity of Ukrainian paperwork for greater training and driver’s licenses for Ukrainian refugees in Europe.

Associated: EU commissioner reiterates want for ‘regulating all crypto-assets’

Mairead McGuinness, the Commissioner for Monetary Companies, Monetary Stability and Capital Markets Union on the European Fee, lately highlighted the necessity for “Regulating all crypto-assets — whether or not they’re unbacked crypto-assets or so-called stablecoins.”

The EU commissioner additionally disclosed plans to debate a proposal with the French authorities through Markets in Crypto Property (MiCA):

“MiCA guidelines would be the proper device to handle the issues on shopper safety, market integrity and monetary stability. That is one thing that’s so pressing given current developments.”