On September 10, 2021, Ukraine legalized[1] bitcoin within the country, providing clarity on the asset which was not clear before. Shortly after the bill was signed into law, Bitcoin Magazine announced our global expansion[2] into the country, opening a bureau in Kyiv, Ukraine.
Ukraine is poised to become a Bitcoin powerhouse with the level of interest in the country. Ukraine is already home to the world’s fourth largest population of Bitcoiners, according to Chainalysis[3], as well as some of the country's politicians own BTC.
Bitcoin Magazine wanted to get the inside scoop on Bitcoin in Ukraine, so we sat down with Ukrainian entrepreneur and investor, Sergey Tron, the founder of White Rock Management, a firm that focuses on artificial intelligence, streaming computing, blockchain, logistics and energy, to dive into this topic. He spoke with us and gave a great insight into what’s been happening in the Bitcoin scene in the country.
Below, Sergey explains to us in detail what the new bill is all about and what it means when it comes to Bitcoin for the citizens, businesses and government operating in Ukraine.
Could you tell us about your experience and why you turned your attention to Bitcoin?
I got familiar with and later engaged in technology, innovation in 2016 after a visit to the leading data centers in China and Europe. Data center power and operation mechanisms impressed me so much that I decided to delve into the principles of work of “non-material,” “non-classical” entrepreneurship myself. I delved into it deeply enough. I understood how cryptocurrency originated, changed and was produced. After that, I decided to give it a try and started creating a mining infrastructure.
Thus, I started
