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

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After Norway and Liechtenstein, Ukraine grew to become the third nation outdoors the European Union (EU) to affix 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 introduced the nation’s transfer to affix the EBP as an observer on June 17. With the final word aim of integrating its digital financial area with the EU, Ukraine plans to broaden its interstate blockchain community partnership with different international locations.

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

Speaking to Cointelegraph, Yarmolenko said Ukraine’s curiosity in working test-node of the EBSI and pilot use circumstances of the cross-border public companies primarily based on the blockchain know-how. He highlighted that the cryptocurrency donations through the Russia-Ukraine struggle “proved as important support,” stating:

“Next step is full blockchain integration of Ukraine and EU based 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 instructional credentials/diplomas and id credentials and refugee/asylum registration and assist.

While sharing particulars in regards to the partnership, Yarmolenko said that the transfer to affix the EBP is a technique to strengthen ties with the EU, including that “I’d even call it blockchain integration with EU.”

Additionally, mentioning one of many benefits of the EU-wide blockchain partnership, Zhmerenetsky confused that Ukraine’s accession to the EBP would cut back the popularity of Ukrainian paperwork for larger schooling and driver’s licenses for Ukrainian refugees in Europe.

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

Mairead McGuinness, the Commissioner for Financial Services, Financial Stability and Capital Markets Union on the European Commission, just lately highlighted the necessity for “Regulating all crypto-assets — whether 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 Assets (MiCA):

“MiCA rules will be the right tool to address the concerns on consumer protection, market integrity and financial stability. This is something that is so urgent given recent developments.”