- According to Vladimir Nosov, it is clear legislation and clear conditions for raising capital
- this is what determines the development of the segment and the appearance of new startups
Today, June 10, there is an online marathon as part of the large-scale Web3 event Incrypted Conference 2023.. Among the speakers is Vladimir Nosov, CEO of the WhiteBIT exchange. The topic of his speech was cryptocurrency in Ukraine and how it can help with the recovery of the country in the post-war period.
A little about the regulatory background
In Vladimir’s opinion, the most important factor on which the future of the industry in the local market depends is legislation:
“The first and perhaps the most important is to create a regulatory framework that would allow to attract foreign capital. And this requires immediate attention,” Vladimir noted.
Nosov specified that otherwise Ukraine risks losing capital.. There are other markets where lawmakers are less conservative, such as Singapore and Hong Kong.
He also pointed to the example of MiCA. Even though it is not exactly what market participants expected from the EU, this law can serve as a kind of basis for the subsequent rulemaking process.. In his opinion, the new generation is suspicious of centralized instruments.
This is why demand for cryptocurrencies is growing. State bodies need to take the lead in the decentralized segment in order to follow modern trends.
Ukrainian specialists are “overbought”
In Nosov’s opinion, one of the serious problems of industry development in Ukraine is the lack of support for start-ups.. Getting capital to implement and develop your idea is extremely difficult.
- “We need to change the state and banking segment’s approach to the whole institution of startups and developers. Then it will be possible to create the necessary conditions to launch gas pedals and venture funds,” the speaker emphasized.
Vladimir Nosov also noted that education is no less important for the development of the industry.. In particular, WhiteBIT actively cooperates with various contractors in this area, including the Kyiv-Mohyla Academy. Do you want to know more about WhiteBIT? Earlier Incrypted conducted a detailed review of the exchange. We also have a short interview with Vladimir Nosov on the current state of the crypto industry in Ukraine.