The Verkhovna Rada of Ukraine passed the law #3637 On Virtual Assets with amendments by President Volodymyr Zelensky.
272 MPs voted for the respective bill.
The law will launch a legal market of digital assets in Ukraine. According to the changes the National Securities Commission will regulate the market of virtual assets.
“The new law is additional opportunities for business development in our country. Foreign and Ukrainian cryptocompanies will be able to work legally and Ukrainians will have convenient and protected access to the global market of virtual assets. Market participants will receive legal protection and the ability to make decisions based on open consultations with government agencies. There will be a transparent mechanism for investing in the new asset class”, – said the Minister of Digital Transformation Mikhail Fedorov.
The Ministry explained that the National Securities Commission will form and implement a policy on virtual assets; determine the procedure for circulation of virtual assets; issue permits to virtual asset service providers; and supervise and financially monitor this sphere.
It is also noted that the team of the Ministry is now working on appropriate changes to the Tax and Civil Codes of Ukraine for the full launch of the virtual asset market.
The ministry reminded that Ukraine is among the top 5 countries in the world by the number of users of cryptoassets.