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Ilyashev & Partners Law Firm Starts Accepting Bitcoin Payments

News date: 6 September 2017

Ilyashev & Partners Law Firm started accepting payments in digital currency Bitcoin for its professional services.

“The State Fiscal Service insists that cryptocurrency Bitcoin may not be considered as payment means. At the same time such position is not supported by any regulatory framework. We believe that the operations with Bitcoins do not contradict the law, and started accepting them, tells Mikhail Ilyashev, the Managing Partner of Ilyashev & Partners Law Firm, Bitcoin has already undertaken an important role in international business and global economy, and we have to contend with the realities of business world. Digital currencies are already here, and our clients expect us to be flexible with Bitcoin transactions; and any attempts of fiscal authorities to assume the powers of Verkhovna Rada are destined to fail. Unless the legislative body bans the use of cryptocurrencies, which is unlikely to happen, we will continue working with them”.

Ilyashev & Partners does not see any legal obstacles to accepting Bitcoin payments and embraces the intent of Financial Stability Board to designate the status of cryptocurrencies in Ukraine. “In Estonia, where we have been working since 2016, Bitcoin has already been acknowledged as digital currency – alternative means of payment. In addition, Estonia is going to launch its own national cryptocurrency Estcoin secured by the state guarantees that will function along with Euro”, notes Mikhail Ilyashev.

Founded in 1997, Ilyashev & Partners is one of the most prominent and authoritative full-service law offices of CEE Region. More than 120 employees work in the Firm’s offices located in Kyiv, Kharkiv, Dnipro, Simferopol, Moscow and Tallinn.