The ongoing war between Ukraine and Russia that started in February 2022 has caused the death of thousands of civilians and soldiers, while many have been made homeless.

Read Also: Ukraine’s Official Twitter Handle Just Requested Donations in Bitcoin, Ethereum, and USDT

As donations roll in from across the world in support of Ukraine, crypto enthusiasts have also used the situation to prove that crypto can be useful at a time like this. Since the world started, millions of dollars in crypto have been donated to support Ukraine.

IOG’s Latest Partnership for Easy ADA Donation to Ukraine

According to the recent tweet from Input Output Media, the new partnership between IOG and The Giving Block will ensure to make ADA holders’ donations reach suitable organizations.

Input Output Media tweeted, “We’ve partnered with The Giving Block to allow ADA holders to donate to charities in the Ukraine Emergency Response Fund, ensuring vital funds reach organisations working on the ground. Head to the donation page if you want to help this important cause.”

We've partnered with @TheGivingBlock to allow #ADA holders to donate to charities in the Ukraine Emergency Response Fund, ensuring vital funds reach organisations working on the ground. Head to the donation page if you want to help this important cause https://t.co/ELKf4mBbpV

— Input Output Media (@IOHKMedia) August 10, 2022

How to Make Cardano (ADA) Donation

An ADA wallet (DdzFFzCqrht4KvuD5DhaptymLGAdt2znp8q8eB3RB9bok5ey2kwDQwJeXuB3NtsnCDhuNyMhd41VWPJXng7dvmGqE6AUkdQtqVXQPz2Z) has been created and displayed in the donation page captioned in the announcement.

Read Also: Here’s How Crypto Is Bolstering Ukraine’s Defense Effort against Russian Soldiers

According to The Giving Block, “All donations made to this wallet address will be split equally between International Medical Corps, CARE, World Central Kitchen, Women For Women, SOS Children’s Villages, Save the Children, Hearts and Homes For Refugees, and International Fund for Animal Welfare.”

Cardano users can make donations using the wallet address above to donate ADA to the nonprofits supporting Ukraine. According to the report, all donations will be processed by The Giving Block via America’s Charities.

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According to the recent tweet by the Ministry of Digital Transformation of Ukraine, the bill that was just signed into law by Zelenskyy allows foreign and Ukrainian cryptocurrencies to operate legally in the country. It will also allow banks to open accounts for crypto companies.

Read Also: Ethereum (ETH) Donations to Ukraine’s Government Rapidly Increase after Airdrop Announcement

The tweet describes the new development as another important step towards the advancement of the crypto industry in Ukraine.

“Ukraine has legalized the cryptosector – Volodymyr Zelenskyy profile Law. Now foreign and Ukrainian cryptocurrencies will operate legally in Ukraine and banks will open accounts for crypto companies. This is another important step towards the development of the virtual assets market in Ukraine.”

Україна легалізувала криптосектор — @ZelenskyyUa профільний Закон.
Тепер в Україні легально працюватимуть іноземні та українські криптобіржі а банки відкриватимуть рахунки для криптокомпаній. Це ще один важливий крок до розвитку ринку віртуальних активів в Україні. pic.twitter.com/0G5BedCrWf

— Міністерство цифрової трансформації України (@mintsyfra) March 16, 2022

In a statement today, the Ministry of Digital Transformation said the law determines the legal status, classification, ownership, and regulators of virtual assets, as well as setting registration requirements for crypto services providers.

Read Also: Russian Invades Ukraine, Ethereum Co-Founder Tweets in Russian: “This is a crime against the Ukrainian and Russian people”

According to the tweet above, the market will be regulated by Ukraine’s National Commission on Securities and the Stock Market. Exchanges will be able to operate legally, and banks will open accounts for them.

According to a government announcement today, the state body is tasked with “shaping and pursuing a policy in the field of virtual assets; determining the order of circulation of virtual assets; issuing permits to virtual asset service providers; and carrying out supervision and financial monitoring in this area.”

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Since Russia’s Army invasion began, Ukraine has received massive support from the crypto community through donations in crypto worth millions of dollars.

Recall that Ukraine, through its Vice-Prime Minister Mykhailo Fedorov, asked crypto exchanges to block addresses of Russian and Belarusian politicians, including ordinary users.

Read Also: Ethereum (ETH) Donations to Ukraine’s Government Rapidly Increase after Airdrop Announcement

Mykhailo Fedorov tweeted, “I’m asking all major crypto exchanges to block addresses of Russian users. It’s crucial to freeze not only the addresses linked to Russian and Belarusian politicians, but also to sabotage ordinary users.”

I'm asking all major crypto exchanges to block addresses of Russian users.

It's crucial to freeze not only the addresses linked to Russian and Belarusian politicians, but also to sabotage ordinary users.

— Mykhailo Fedorov (@FedorovMykhailo) February 27, 2022

Some major crypto exchanges, including Binance, Coinbase, and Kraken, found the request too costly since many ordinary Russians are clearly against Putin’s action. Lots of Russians claimed that the President is only representing his personal interest and not that of the citizens of Russia.

Crypto is a Lifeline for Ordinary Russians

Coinbase Chief Executive Brian Armstrong, took to Twitter to explain why the exchange refused to act on Ukraine’s Government request and why it’s nearly impossible to circumvent sanctions using crypto.

In the thread of tweets, he explained that every US-based company is under obligation to follow the law irrespective of the form of currency handled by the company.

Brian Armstrong noted:

“Every US Company has to follow the law – it doesn’t matter if your company handles dollars, crypto, gold, real estate or even non-financial assets. Sanctions laws apply to all US people and businesses.”

“So it would be a mistake to think crypto businesses like Coinbase won’t follow the law. Of course we will. This is why we screen people who sign up for our services against global watchlists, and block transactions from IP addresses that might belong to sanctioned individuals or entities, just like any other regulated financial services business.”

Read Also: Russian Invades Ukraine, Ethereum Co-Founder Tweets in Russian: “This is a crime against the Ukrainian and Russian people”

Armstrong further stated that it’s nearly impossible for Russian oligarchs to use crypto to evade sanctions because it’s easier to trace huge transactions of crypto than when U.S Dollars cash, art, gold, or other assets are involved.

Most importantly, he said crypto has been serving as a lifeline for ordinary Russians due to the collapse of their currency. He pointed out that many of them are obviously not happy with what is currently happening in Ukraine. So, blocking their addresses would hurt them.

However, Armstrong made it clear that if the United States government decides to impose a ban, Coinbase will not hesitate to comply.

Brian Armstrong tweeted, “Some ordinary Russians are using crypto as a lifeline now that their currency has collapsed. Many of them likely oppose what their country is doing, and a ban would hurt them, too. That said, if the US government decides to impose a ban, we will of course follow those laws.”

8/ Some ordinary Russians are using crypto as a lifeline now that their currency has collapsed. Many of them likely oppose what their country is doing, and a ban would hurt them, too. That said, if the US government decides to impose a ban, we will of course follow those laws.

— Brian Armstrong – barmstrong.eth (@brian_armstrong) March 4, 2022

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Ukraine announced, “Airdrop confirmed. Snapshot will be taken tomorrow, on March 3rd, at 6pm Kyiv time (UTC/GMT +2 hours). Reward to follow! Follow subsequent news re Ukraine’s crypto donation campaign at Fedorov Mykhailo.”

Airdrop confirmed. Snapshot will be taken tomorrow, on March 3rd, at 6pm Kyiv time (UTC/GMT +2 hours).
Reward to follow!
Follow subsequent news re Ukraine’s crypto donation campaign at @FedorovMykhailo

— Ukraine / Україна (@Ukraine) March 2, 2022

Ethereum (ETH) Donations Spike

As shown in a pair of Dune Analytics dashboards, which track the Ethereum addresses provided by Ukraine’s government for ETH donations, the amount spiked massively in the early hours of 2nd March, coinciding with the Airdrop announcement.

At the time of writing, over $11 million worth of Ethereum (ETH) has been donated to support Ukraine in the ongoing fight against the Russian Army that invaded the country a few days ago. Also, relatively $10 million worth of BTC has been donated so far.

Ukraine to Soon Accept More Cryptocurrencies

On 1st March, Ukraine announced that it has started accepting donations in Polkadot (DOT), which brought about Gavin Wood’s donation of $5 million worth of DOT. The country also assured that more cryptocurrencies will soon be accepted.

Ukraine tweeted, “The people of Ukraine are grateful for the support and donations from the global crypto community as we protect our freedom. We are now accepting Polkadot donations too: $DOT: 1x8aa2N2Ar9SQweJv9vsuZn3WYDHu7gMQu1RePjZuBe33Hv. More cryptocurrencies to be accepted soon.”

On 2nd March, the Vice-Prime Minister of Ukraine announced that the largest meme coin, Dogecoin (DOGE), has been green-lighted for donations.

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Mykhailo Fedorov, Ukrainian Vice-Prime minister announced the new development on Twitter a few hours ago, stating that Dogecoin (DOGE) has now exceeded the Russian ruble in value, which is which the meme coin is being considered for donations.

In the tweet, he called on the tech expert Elon Musk, who has been a stern supporter of the meme coin, and Shibetoshi Nakamoto, the founder of Dogecoin, to rise up in support of the country during this difficult time.

Fedorov shared a DOGE address for the teeming members of the Dogecoin community who are willing to support Ukraine through donations.

Mykhailo Fedorov tweeted, “Dogecoin exceeded Russian ruble in value. We start to accept donations in meme coin. Now even meme can support our army and save lives from Russian invaders. DOGE owners of the world, Elon Musk, Shibetoshi Nakamoto, let’s do it. Official DOGE wallet: DS76K9uJJzQjCFvAbpPGtFerp1qkJoeLwL.”

@dogecoin exceeded Russian ruble in value. We start to accept donations in meme coin. Now even meme can support our army and save lives from Russian invaders. $DOGE owners of the world, @elonmusk, @BillyM2k, let's do it. Official $DOGE wallet: DS76K9uJJzQjCFvAbpPGtFerp1qkJoeLwL

— Mykhailo Fedorov (@FedorovMykhailo) March 2, 2022

Ukraine has been receiving support from the crypto community since it officially announced that it will accept donations in cryptocurrency.

On 26th February, Ukraine, via its official Twitter handle, provided Bitcoin, Ethereum, and USDT addresses for donations, which has since garnered millions of dollars in crypto.

Similarly, on 1st March, Ukraine announced that it has started accepting donations in Polkadot (DOT), assuring that more cryptocurrencies will soon be accepted.

The country also appreciated Gavin Wood, the founder of Polkadot for donating a whopping sum of $5 million worth of DOT.

Ukraine wrote, “The people of Ukraine fighting for our freedom are forever grateful to Gavin Wood @gavofyork for the generous donation of $5M of Polkadot $DOT as promised publicly. Thank you from all of us here in Ukraine working for a peaceful future.”

The people of Ukraine fighting for our freedom are forever grateful to Gavin Wood @gavofyork for the generous donation of $5M of @Polkadot $DOT as promised publicly. Thank you from all of us here in Ukraine working for a peaceful future

— Ukraine / Україна (@Ukraine) March 1, 2022

In the first of its kind crypto donation for war efforts, Ukraine has surpassed the $35 million mark. Donations in crypto are on the increase, as the country raised over $10 million in a single day.

As reports have it, organizations, such as ‘Come Back Alive’, are also receiving donations in crypto to support Ukraine in the ongoing war.

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The country, through its official Twitter handle on 26th February, requested the support of the crypto community in donations. Bitcoin, Ethereum, and USDT addresses were provided. And millions of dollars worth of cryptocurrencies have been donated.

Ukraine tweeted, “Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT. BTC – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P ETH and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e.”

Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT.

BTC – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P

ETH and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e14

— Ukraine / Україна (@Ukraine) February 26, 2022

Ukraine Announced Support for Donations in Polkadot (DOT)

A couple of hours ago, Ukraine, via its official Twitter handle announced support for Polkadot (DOT) donations, assuring that more cryptocurrencies will be accepted soon.

“The people of Ukraine are grateful for the support and donations from the global crypto community as we protect our freedom. We are now accepting Polkadot donations too: $DOT: 1x8aa2N2Ar9SQweJv9vsuZn3WYDHu7gMQu1RePjZuBe33Hv. More cryptocurrencies to be accepted soon.”

The people of Ukraine are grateful for the support and donations from the global crypto community as we protect our freedom. We are now accepting Polkadot donations too: $DOT: 1x8aa2N2Ar9SQweJv9vsuZn3WYDHu7gMQu1RePjZuBe33Hv.
More cryptocurrencies to be accepted soon.

— Ukraine / Україна (@Ukraine) March 1, 2022

Gavin Wood Donates $5 Million Worth of DOT

Ukraine has officially appreciated the founder of Polkadot (DOT), Gavin Wood, for donating $5 million worth of DOT as promised.

Ukraine tweeted, “The people of Ukraine fighting for our freedom are forever grateful to Gavin Wood @gavofyork for the generous donation of $5M of Polkadot $DOT as promised publicly. Thank you from all of us here in Ukraine working for a peaceful future.”

The people of Ukraine fighting for our freedom are forever grateful to Gavin Wood @gavofyork for the generous donation of $5M of @Polkadot $DOT as promised publicly. Thank you from all of us here in Ukraine working for a peaceful future

— Ukraine / Україна (@Ukraine) March 1, 2022

Ukraine Says ‘Airdrop Confirmed’ After Receiving $33M Crypto Donations

Ukraine will conduct an airdrop to donors that have contributed money to its official crypto addresses, the country said on Wednesday through its official Twitter account.

“Airdrop confirmed. Snapshot will be taken tomorrow, on March 3rd, at 6 pm Kyiv time (UTC/GMT +2 hours). Reward to follow!,” the tweet read.

Airdrops involve crypto projects sending free tokens en masse to their communities in a bid to encourage adoption. As earlier reported by CoinDesk, the country has received $33 million in crypto donations so far.

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It can be recalled the United States, the United Kingdom, and others have officially sanctioned Russia for choosing to invade Ukraine instead of giving room to dialogue.

Read Also: Russian Invades Ukraine, Ethereum Co-Founder Tweets in Russian: “This is a crime against the Ukrainian and Russian people”

Alex Krüger, in a tweet a few days ago, stated that it would be dreadfully bearish for crypto if it’s used by Russia to bypass sanctions. He said such a move will push regulators to crush the crypto industry as a matter of national security. He thereby urged members of the crypto community not to expect it to happen.

Alex Krüger tweeted, “Russia using crypto to bypass sanctions would be dreadfully bearish don’t expect it to happen but be careful what you wish for. US regulators would be pushed to crush the industry as a matter of national security.”

US regulators would be pushed to crush the industry as a matter of national security

— Alex Krüger (@krugermacro) February 24, 2022

Joe Biden and Boris Johnson Impose Sanctions on Russia

Last week Thursday, President Joe Biden declared in a press conference that the United States will block five of the biggest Russian banks and freeze all assets they hold in America, worth over $1 trillion.

The prime minister of the United Kingdom, Boris Johnson, also imposed a similar sanction on the same day. The UK has frozen assets of all major Russian banks and cut them off from the financial markets of the United Kingdom.

Read Also: Ukraine’s Official Twitter Handle Just Requested Donations in Bitcoin, Ethereum, and USDT

Boris Johnson also seeks to restrict Russian companies and the Russian government from raising money on U.K. markets, a move that was also expressed by Biden during his press conference.

Moreover, Biden said the United States and G7 leaders have reached an agreement to limit Russia’s ability to do business in dollars, euros, pounds, and yen.

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About three days ago, Ukraine’s official Twitter handle requested donations in cryptocurrencies in a bid to strengthen its defense against Russia’s invasion.

In the tweet, Bitcoin, Ethereum, and USDT were specifically mentioned and their respective addresses were included. This implies that other crypto holders apart from these three major cryptocurrencies cannot donate.

Ukraine tweeted, “Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT. BTC – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P ETH and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e14.”

As reports have it, the donations addresses published by Ukraine have accrued over $30 million and still counting.

A number of crypto community members have been requesting the inclusion of their choice digital currencies to avoid hefty transaction fees on Bitcoin and Ethereum networks.

Cardano (ADA) holders have been calling Ukraine to publish an ADA wallet. The latest to request this special inclusion is the founder and CEO of VeChain (VET), Sunny Lu.

Sunny Lu Vows To donate $8 million If VET Wallet is Set Up by Ukraine

A few hours ago, Sunny Lu took to the viral tweet to promise $8 million support if the country accepts donations in VeChain (VET).

In the tweet, Lu instructed the government of the country to set up a VET wallet and share the address in order to enable his whopping donation, adding that nothing can be compared to people’s life.

Sunny Lu tweeted, “Setup a VET wallet and leave VET address, I’ll donate $8m. Nothing else matters comparing people’s life.”

Setup a VET wallet and leave VET address, I’ll donate $8m. Nothing else matters comparing people’s life.

— Sunny LU, VeChain Ⓥ (@sunshinelu24) February 28, 2022

As expected, Lu’s request for VET inclusion impressed the teeming VeChain community members. Many VeChain enthusiasts promised full support if the country adheres to Lu’s instruction.

Reacting to Sunny Lu’s request, a supposed VeChain enthusiast wrote, “If this is established our team will put together a NFT minting event where 100% of proceeds will be distributed to the same address, direct from the contract.”

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Vitalik Buterin was born in Russia but moved to Canada with his parents that were seeking a greener pasture. In a tweet that has since gone viral, Ethereum co-founder said Putin has finally abandoned the possibility of a peaceful solution to wage war against Ukraine.

Vitalik Buterin tweeted, “Very upset by Putin’s decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.”

Очень расстроен решением Путина отказаться от возможности мирного решения спора с Украиной и вместо этого начать войну. Это преступление против украинского и русского народа.

Хочу желать всем безопасности, хотя знаю, что не какой безопасности не будет.

Слава Украине.

— vitalik.eth (@VitalikButerin) February 24, 2022

In the follow up tweet, Buterin wrote, “Reminder: Ethereum is neutral, but I am not.”

Reminder: Ethereum is neutral, but I am not.

— vitalik.eth (@VitalikButerin) February 24, 2022

Buterin’s reaction comes after Russia started a full invasion of Ukraine. Bomb blasts have been heard in many cities, leaving the hope of Ukrainians to prayers as they don’t know what may happen next.

Vitalik Buterin had previously tweeted that he hopes there won’t be war between the two countries as he expected a wise decision from the Kremlin. But the reverse is now the case.

Buterin tweeted, “An attack on Ukraine can only harm Russia, Ukraine, and humanity. Whether the situation can return to a peaceful path or a war can now be decided not by Zelensky, not by NATO, but by the Kremlin. I hope they choose wisely.”

Meanwhile, the crypto market led by Bitcoin (BTC) has been in the red since Russian attacks on Ukrainian cities were confirmed. Bitcoin has since dipped below $35,000, while Ethereum, the second-largest crypto, is trading below $2500 at the time of filing this report, According to CoinMarketCap.

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The recent report stated that the Ukrainian parliament has voted in favor of a Virtual Assets Bill that grants legal status to all forms of cryptocurrency and virtual assets. 300 members of parliament voted in favor of the bill and only 2 members voted against it. However, the country has not made bitcoin a legal tender.

The bill gives all virtual assets in the country a basic regulatory framework to thrive. It categories cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) under the term “virtual asset,” which is defined as any asset that cannot already be legally used as a payment instrument or traded for other assets, products, and services.

The bill details requirements that Bitcoin service providers such as exchanges should abide by and determines fines for violations of the law’s provisions, in addition to determining that the country’s National Securities Commission regulates the cryptocurrency market.

Reacting to the new development, Mykhaylo Fedorov, Ukrainian minister of digital transformation, said:

“The new law is an additional opportunity for business development in our country. Foreign and Ukrainian crypto companies will be able to operate legally, and Ukrainians will have convenient and secure access to the global market for virtual assets,”

According to the report, the Securities Commission of Ukraine has been tasked with issuing permits to Bitcoin and crypto service providers and carrying out supervision and financial monitoring of the market

It can be recalled that Ukraine had introduced a similar bill in September 2021, but President Volodymyr Zelensky vetoed it, arguing that the country couldn’t afford to create a new regulatory body specifically for Bitcoin and crypto-assets.

The bill was then returned to the Ukrainian parliament by the President along with his suggestion to let existing regulators oversee the fast-growing sector. Now, the recommendation has been incorporated by the parliament and the amended bill has been passed.

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