BEIJING, Jan. 26, 2017 /PRNewswire/ -- The Administrative Court of Appeal of Ukraine has adopted a decision on the legalization of the decentralized cryptocurrency and approval of its legitimate and legal status. We are talking about E-Dinar Coin (EDC). The limited liability company "EDINARCOIN" has managed to prove that cryptocurrency E-Dinar Coin is an official means of payment. The cryptocurrency is not subjected to fees and taxes provided by the state and other regulators, that makes it possible to carry out transactions in the decentralized system and to trade E-Dinar Coin on the world's exchange markets.
The plaintiff ("Edinarcoin" LLC) has managed to prove that all operations with E-Dinar Coin, that are carried out in the system and on the cryptocurrency exchange markets, can be equated to the operations with conventional money, and therefore, the cryptocurrency should be considered the legal currency, such as the dollar, the ruble, and the hryvnia.
What is the difference between cryptocurrencies and fiat money? Cryptocurrency is a digital asset, which is developed by special computer systems and is not controlled by the central banks and other government agencies. Since the entire global financial system has been created, the state and the government in one way or another have an impact on everything that happens in the country. It raised a question about the legality of cryptocurrency.
According to official data, the use of virtual currencies is not restricted in most major countries, including Russia and the European Union countries. You can conduct online transactions, convert it to other world's currency, make money on mining. However, it's obvious, that the authorities do not encourage an opportunity of purchasing and selling any kinds of goods or services for cryptocurrency in stores, which are ready to accept it as a means of payment, and the network of which is growing all over the world.
E-Dinar Coin representatives achieved a decisive victory. E-Dinar Coin company will continue to defend its rights and achieve the implementation of E-Dinar Coin on the platform. This will help provide each member of E-Dinar Coin with a great opportunity to take advantage of the advanced system and decentralized cryptocurrency by using modern technologies, namely mobile applications.
Nowadays, E-Dinar Coin continues its development, becoming more popular among people all over the world. The representatives of the company say that the popularity of EDC contributes to the fact that it has been created by people and for people. Noteworthy, EDC is the most prospective means of payment for goods and services in many world countries.
Despite the legality of cryptocurrency, it is the subject of increased interest of law, tax and legal bodies, which are aimed at having more control over the coins and establishing taxes on cryptocurrency. In its turn, cryptocurrency is able to replace fiat money, which is issued by central banks, regulators, and incurs a risk of volatility.
E-Dinar Coin is an ecological decentralized cryptocurrency based on the mechanism and principles of blockchain that operates on the delegated proof-of-stake (DPOS), the most effective method of data protection. It is planned to issue a record number of E-Dinar Coins, and unlike its competitors, its emission will help provide the international financial system with a stable means of payment - fast, anonymous, without administrative restrictions. In addition, E-Dinar Coin aims at developing blockchain technology and investing the part of its income in the environmental projects to improve the quality of life of every person on earth.
Modern money is no longer secured by real assets and may lose its purchasing power, causing subsequent hyperinflation. Cryptocurrency is the only economically viable way out of the global financial crisis. E-Dinar Coin has all chances to become the currency of the century.
The court's decision on the legalization of E-Dinar Coin is available at
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SOURCE E-Dinar Coin