The regulator of the virtual assets market will be the National Securities and Stock Market Commission (except for assets secured by currency values). The commission will form the state policy in this area, determine the procedure for the circulation of virtual assets, issue permits and conduct financial monitoring.
“Today, the potential of the global crypto industry is determined by billions of investments. Growth rates are outpacing traditional sectors of the economy. In Ukraine, the virtual asset market can turn out to be a powerful sector of the digital economy. Thanks to the adopted law, we have every chance of being a leading country for business development in this innovative area,” the deputy said. Minister of Digital Transformation for IT Development Alexander Bornyakov.
People’s Deputies adopted the law “On virtual assets” September 8, 2021. The law should streamline the legal regulation of the market for virtual assets (cryptocurrencies) and their participants.
National Bank of Ukraine does not recognize cryptocurrencies, but operations with them are not legally prohibited. After the adoption of the law on the legalization of cryptocurrency in Ukraine, it became possible to create a transparent market for virtual assets, said the head of the National Bank, Kirill Shevchenko. He then reported that The National Bank is considering the possibility of issuing own digital money.
October 5 Zelensky returned the law to the Verkhovna Rada with your suggestions. The head of state proposed that the already existing regulator, the National Commission for Securities and the Stock Market (NKTSBFR), deal with virtual assets.
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