Global markets, including the cryptocurrency market, reacted instantly to the statement of US President Donald Trump about progress in relations with China. The price of Bitcoin (BTC) “jumped” to almost 105 thousand dollars per coin. As fintech expert and co-founder of the first fintech ecosystem in Ukraine, Concord Fintech Solutions, Olena Sosiedka, explained in an exclusive comment to UNN, this is another confirmation that cryptocurrency has long been perceived not as a “speculative asset”, but functions as part of the global macrofinancial ecosystem.
If we consider the latest events from the point of view of market logic, everything is clear: a decrease in geopolitical tension between the US and China is a signal of a decrease in risks for the world economy. And Bitcoin, as “digital gold”, traditionally reacts to changes in risk expectations
She explained that digital assets react with growth to positive expectations, especially when it comes to a potential weakening of regulatory pressure or an increase in institutional confidence.
Olena Sosiedka drew attention to the fact that not only Bitcoin, but also other coins, have risen in price. For example, the value of Ethereum is approaching 3 thousand dollars per coin.
“It is worth remembering that Bitcoin is an indicator not only of the financial, but also of the political situation. Digital assets are not yet controlled by governments, and that is why they react so sensitively to any signals from major players,” added Olena Sosiedka.
Let us remind you
The Verkhovna Rada planned to legalize the cryptocurrency market in Ukraine by the end of the year. Currently, the parliament is working on legislative changes regarding the taxation of crypto.
Olena Sosiedka in a comment to UNN explained that the lack of clear legislation in Ukraine in the field of virtual assets leads to a number of negative consequences. The first is legal uncertainty. After all, companies and investors face a lack of clear rules, which ultimately restrains the development of the market.
No less important consequence, according to her, is also the lack of protection of rights. “Now cryptocurrency users in Ukraine are left without mechanisms to protect against fraud,” explained Olena Sosiedka.
She added that due to the lack of legal regulation, the state loses economic opportunities, because now Ukraine has a limited inflow of investments and the development of fintech startups.
In addition, according to her, the legalization of cryptocurrencies will create favorable conditions for attracting foreign investments in the IT sector and fintech startups. This, in turn, will create new jobs, increase the country’s competitiveness and provide citizens with access to new financial instruments.
The fintech expert notes that the adoption of the law on cryptocurrencies will also allow the development of innovations, in particular, legalization will contribute to the development of blockchain technologies and the fintech sector.
