The Government of Ukraine is Occupied with the Question of Legalization and Regulation of the Cryptocurrency Sphere


On May 15, the deputy of the Ukrainian parliament Alexei Mushak reported that the government of Ukraine is preparing a bill that will allow legalizing the cryptocurrency in the territory of the state.

Mushak added a copy of the draft legislative document, urging readers to comment on the terms of the rules proposed for the cryptographic market:

After publishing a copy of the bill on his Facebook page, Mushak asked users to express his opinion on this initiative:

“We go to the home stretch to create conditions for digital tokens and cryptocurrency in Ukraine. This is the outcome of many meetings and work of many people. There are many more nuances left to figure out. The final version will be ready in two weeks. I ask you to comment and edit. The thoughts of market practitioners are especially important.”

According to the document, the government of Ukraine intends to create a safe and transparent environment that will allow buying, exchanging and storing the cryptocurrency, as well as regulating issues related to tokens and smart contracts both at the state level and at the level of individual users. Also, the bill is aimed at solving such problems as the use of cryptocurrency for money laundering, terrorist financing, and other illegal activities.

Also, the bill pays attention to such an aspect as the use of Blockchain technology, highlighting the areas of health, education and international relations as priorities for the integration of technology.

Taking into account the fact that the bill was published in social networks, many Ukrainian users have already left their comments and suggestions, paying special attention to the need to regulate ICO as the area most open to fraud. Mushak, in turn, noted that the government cannot yet make an unambiguous decision regarding the ICO, because excessive pressure can adversely affect the development of this area.

Earlier, the Ukrainian National Commission for Securities and Stock Market (SSMCS) announced its intention to consider the cryptocurrency as a type of financial obligation, taking into account the popularity of the bottom form of finance. Also, the Commission is confident that the regulatory framework for this area should be developed at the state level.

Also, at the beginning of the year, the National Bank of Ukraine announced its intention to launch a national digital coin, the hryvnia, which would not be a cryptocurrency as it would not use Blockchain.

This post is also available in: ruРусский

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