I think we have all seen or heard the effects of the world's governments rushing to introduce ways to lock down their own regulations and restrictions on the crypto space, usually in direct ignorance of the self-governing nature of blockchain technologies.

One of the more stupid of which is New York's Bitlicense - the reason that Brave/BAT has been crippled for users and publishers in New York since nobody can check out their funds via Uphold in New York.

And yet one of the world's most locked-down countries in fiat currencies is introducing the most open crypto-space regulations, at least in terms of regulating mining activities!

For some years Ukraine has been trying to make itself more attractive as a place for foreigners to do business (and hopefully the locals in the process!), but they still have a looooong way to go before it is even remotely easy. I run a business in Ukraine myself, so I have first hand experience of how bad things can be.

Because of the ani-money-laundering laws here my bank requires me to sign my name 4x each time my business account receives money, because somehow me signing my name proves that the money is legitimate........... OK, yep good proof folks. And if that amount is greater than 150,000UAH (a bit over US$6000 at current rates) I need to present more proof in the form of a contract/business agreement. This at least makes a bit of sense as a form of proof of legitimacy of payment.

Then there is the situation at the bank level itself..... To access my business account's internet banking I need to have a browser that supports Java Applets!

For anyone not savvy on the web tech, that basically means I need Internet Explorer or stupidly old versions of the real browsers. So for a bank that has super-secure processes derived from crazy-strict laws around everything else, they make me use an obsolete browser using technologies that were also made obsolete in part because of their security vulnerabilities!

Obviously I could change banks.... But that would require additional hours researching which bank would be the better fit for me, an additional expense to get my lawyer to help with the setup, and then the time to actually make it happen and learn whatever new system I have to learn. For now I will suffer in silence and hope my bank will update their system soon.

But at least the government has their head in the right place for some future technologies - they have deemed that as far as mining regulations for proof of work and public blockchains are concerned, the blockchain handles these things more than adequately and thus further regulations are not required!

This paves the way for Ukraine to be a leader in the mining space thanks to relatively attractive energy prices, and no additional layers of stupidity blocking the way for the proceeds of mining activities translating into fiat currency.

However this really only benefits locals, or foreigners like myself with a local bank account. Once your mining profits are in a bank account your gains will fall under the old legislation on fiat, so without heavy changes to the process Ukraine is not going to explode as a hub of foreign mining activity any time soon due to the difficulties in moving money - especially in moving money out of the country.

But it is a good sign that some positive changes are coming about in the crypto market and the overall money situation here!