Agreement for Bitcoin payments in Ukraine. Is it possible?
Yes, we created such a document!
Agreement for Bitcoin payments (Bitcoin (BTC) Contract) allows you to guarantee the interests of those who have decided to use Bitcoin, Ethereum, Dash, Ripple or other cryptocurrency for payments in Ukraine.
We have studied in detail the existing practice in Ukraine, mistakes of other lawyers, as well as the results of court proceedings. This made it possible to create a viable document (Bitcoin (BTC) Contract) that can be used in relationships between individuals. With some reservations this Agreement may also be used by private entrepreneurs.
In Ukraine bitcoin operations are being carried out more often there is also the practice of concluding contracts for payments in bitcoin for services or goods. However litigation arising from such contracts is currently ending extremely negative for a party that has decided to accept bitcoin payment.
Courts of Ukraine pay attention to the fact that contracts using bitcoin (as payment) should be considered as barter agreements. However, since the bitcoin unit, in the opinion of the court, has no individual characteristics, it can not be identified and specific features specific to the material world, then within the framework of an exchange, such an object can not be the subject of judicial protection in Ukraine.
In addition judges refer to the letter of National Bank of Ukraine dated 12/08/2014 № 29-208/72889 according to which Bitcoin is not a currency it is a monetary surrogate, which has no real value.
But we know the reasons for the negative judicial practice, the mistakes of our colleagues and how to avoid them.
There are two such reasons for today:
The first one depends little on us. Current legislation of Ukraine is the problem.
However, in our earlier publication we discussed bills designed to regulate transactions with Bitcoin or other cryptocurrencies in Ukraine. The provisions of these documents raise a lot of remarks, but the second proposed bill also contains a number of positive points.
The second reason for unsuccessful attempts to conclude valid agreement for transactions in BTC is unprofessionalism of lawyers who created such documents, lack of understanding of the legal nature of cryptocurrencies and Ukrainian legislation in their "interaction", and also attempts to use outdated solutions of entirely new tasks.
The contract for bitcoin (BTC) payments in Ukraine can exist in spite of everything and fulfill the tasks assigned to it. Our specialists have solved existing problems and created a working document.
As true cryptolawyers we proceed from the opportunity to take advantage of the right provided for by the Civil Code of Ukraine to depart from the general rules and conclude an agreement not provided for by law, but permitted and in line with the applicable requirements of Ukrainian legislation.
In order to implement this approach the party paying in bitcoin or another cryptocurrency is responsible for executing the algorithm, which in turn leads to the desired result.
In the option proposed by us, the parties have contractual obligations, which are de jure performed by them on a free basis (but the mechanism of compensation is present in our "Bitcoin Agreement"), but de facto this agreement gives what can be expressed in words - "Bitcoin payments of goods or services".
Without adopting a law that addresses the issue of using cryptocurrencies in Ukraine, all other approaches to drawing up the "Treaty for the payment in bitcoin" lead to a legal gap. Of course the solution proposed by us does not guarantee you a fair court decision by 100%. And yet, this is the most viable option, with the maximum possible protection of your interests.
Who will benefit from the Bitcoin (BTC) payments Agreement?
The Bitcoin payments Agreement will be useful to all individuals who decide to accept payment or make payments using Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) or other cryptocurrencies.
Our agreement will be extremely useful for you as well as for your clients if you are an IT specialist, photographer, videographer, designer, freelancer or keep your small Internet-shop and your clients want to pay for services in cryptocurrencies.
For people with a rational mindset it does not matter how much bitcoin will cost tomorrow - 1$, 100,000$ or maybe it really costs nothing at all. More important is that almost any cryptocurrency is an effective and useful tool and we know the way to use cryptocurrencies according to the law of Ukraine.
The document we have developed is the best option before the adoption in Ukraine a special law regulating the use of cryptocurrencies. After the adoption of this Law we will provide you with the opportunity to download a new updated version of the bitcoin Treaty.
How to download a Bitcoin (BTC) Agreement?
Very easy! Call or email us and we will send the Bitcoin (BTC) Agreement template to You.
If necessary we will compile bitcoin Treaty for your individual situation.
Sincerely, Evgeny Movchun
+38 050 643 79 03
Our Facebook page (ukrainian language).
P.S. We apologize for any possible grammar mistakes. The main goal of this article is to help you understand real situation about cryptocurrencies payments in Ukraine according to law.