Cryptocurrency-related Ukrainians are migrating to Portugal, as it is a crypto-friendly country.
Ukrainians are fleeing their country, following Russia’s invasion. The war has not only caused more than 850 deaths in Ukraine, but has forced thousands of citizens into exile.
In the midst of the terrible situation, the country has taken several actions regarding the crypto world. First of all, it started with fundraisers of support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. in non-fungible tokens and cryptocurrencies But last week he did something even more momentous: President Zelenskyy signed a bill called “On Virtual Assets”. The Ukrainian parliament had previously approved the proposal in February.
This is what the Ministry for Digital Transformation said on Twitter : “ Ukraine has legalized the crypto sector. From now on, foreign and Ukrainian cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchanges will operate legally and banks will open accounts for cryptocurrency companies. This is an important step towards the development of the [digital asset] market an area or arena, online or offline, in which commercial dealings are conducted. in Ukraine.”
Portugal: new home
As we said, thousands of Ukrainians have sought refuge in other countries, mainly neighbouring ones.
Sin embargo, a pesar de la gran distancia de la zona de conflicto, Portugal ya ha aceptado 13.000 refugiados en las últimas semanas después de que las Lisbon authorities will simplify the arrival formalities for Ukrainians.
According to a report by Bloomberg, Among those taking refuge in Portugal may be many Ukrainian representatives of the crypto ecosystem, who may be comfortable in that nation, given its more crypto-friendly policies than other European countries. In fact, in February of this year we told that the co The so-called “Bitcoin Family” had moved to the Iberian Peninsula country precisely because of this openness to cryptocurrencies.
Portugal maintains zero percent tax on profits from private investments in cryptos . Where these earnings are not derived from professional activities, they are not subject to income tax. Some foreign nationals may also benefit from a flat income tax of 20% and a 10% tax on pensions.
Ukrainians in Portugal
Bloomberg tells the story of Valentin Sotov, a Ukrainian software developer working on a crypto metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users. game called Amber, who fled western Ukraine with two of his colleagues. They now hope to continue their work from an office in Lisbon, although Sotov admits it has been a challenge to find permanent accommodation: “You have to have a contract in traditional finance, a contract is a binding agreement between two parties. In cryptocurrencies, smart contracts execute functions on the blockchain. for a year, and you need to have a Portuguese guarantor, and you need to have a tax identification number and a visa. We don’t know what to do yet, we are asking our friends”.
Despite the difficulties, the 35-year-old Ukrainian points to the positive side of Portugal. “ All the people here are very open, it’s a parade of nations”. He says, adding that he sees the relocation as a great opportunity for his company’s product because of the availability of IT expertise in the country.
Maria Yarotska, another Ukrainian crypto worker who escaped the war, will be able to keep her job even in Portugal as her employer, a Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. project with a Ukrainian co-founder, Near is expanding her business in the country while supporting refugees like herself. “I have many colleagues here. They will help me legalize my documents so I can stay.” Yarotska told the publication.
Even before the current migration, Portugal was home to a relatively large Ukrainian diaspora, representing the fifth largest group of foreign nationals. With the refugees now, the number of Ukrainians residing in the country has reached around 40,000, making it already the third largest group of foreign nationals in the country.
Meetings of crypto people
Add Bloomberg that today, the presence of digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. enthusiasts from all walks of life is palpable in Lisbon, where networking opportunities abound. These range from the Web Summit annual, one of the world’s largest tech conferences, to weekly informal gatherings in bars to discuss the next big crypto trend.
“I’m part of a crypto investor group on Telegram with 250 foreigners who have moved or plan to move to Portugal.” said Stephan Morais, managing partner and the venture capital capital is most commonly defined as the large sum of money you would use to invest. firm based in Lisbon Indico Capital, whose targets include web3, fintech, artificial intelligence and digital enterprises. “They come from all over the world.”
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